Strategy STRC Bitcoin purchases just hit a new record. The company’s perpetual preferred stock (STRC) saw $1.5 billion in daily trading volume on Thursday.
Michael Saylor confirmed the milestone. “All‑time high volume. $1.53B of liquidity,” he said.
Why Strategy STRC Bitcoin purchases matter
Strategy has leaned on Stretch to fund Bitcoin buys over the past 12 months. Why? Because funding through senior convertible notes and at‑the‑market equity offerings has tightened.
Stretch offers investors an 11.5% dividend. Importantly, the company does not need to dilute common shares.
According to the STRC.live tracker, Strategy could theoretically raise $735.4 million from Thursday’s performance. That could purchase 9,066 Bitcoin. However, there is no guarantee that Strategy will make a purchase based on this amount.
Accelerated buying pace
Strategy has now purchased 56,770 Bitcoin since April. It has bought 101,147 Bitcoin since March. This pace accelerated after a slower‑than‑usual February.
A popular tool for Bitcoin treasuries
Perpetual preferred stocks have become popular. Bitcoin treasuries use them to purchase more BTC, especially during the current bear market. Raising capital via senior convertible notes and equity offerings has become more difficult.
During Strategy’s Q1 earnings call on May 5, Saylor said the company aims to build Stretch into the “biggest credit instrument in the world.” Other Bitcoin treasuries have adopted similar strategies.
For example, Strive announced on Thursday that investors of its Variable Rate Series A Perpetual Preferred Stock (SATA) will earn daily dividends from June 16. That is a more frequent payout than Strategy’s monthly distributions.
In recent months, Tokyo‑based Metaplanet has also raised capital through perpetual preferred stocks like MARS and MERCURY.
Strategy remains the largest
Nearly 200 public companies hold Bitcoin on their balance sheets. Still, Strategy remains the largest corporate Bitcoin treasury by far. It holds 818,869 Bitcoin worth $66.5 billion at current prices.
Bitcoin’s recent rally to $81,000 has pushed above Strategy’s average purchase price of $75,543. As a result, its Bitcoin holdings are up 7.2%.