TLDR
- Strategy’s STRC preferred stock hit $198.7M in trading volume on Tuesday, its highest single-day figure of 2026
- Trading data implies Strategy bought roughly 1,000 BTC on Tuesday — the biggest one-day accumulation since STRC launched in July 2025
- An estimated 763 BTC was purchased on Monday via STRC activity, bringing the two-day total to around 1,762 BTC
- Strategy recently raised STRC’s dividend rate to 11.5%, its seventh increase since launch
- MSTR common stock climbed over 7% in pre-market trading as bitcoin topped $71,000 for the first time in a month
Strategy looks like it went on a bitcoin shopping spree this week.
Trading activity in its perpetual preferred stock, Stretch (STRC), points to the company buying roughly 1,000 BTC on Tuesday — the largest single-day accumulation tied to the instrument since it began trading in July 2025.
Tuesday’s STRC volume came in at $198.7 million, well above its 30-day average of $123.3 million.
Of that total, about $177 million traded above STRC’s $100 par value — the threshold that allows Strategy to activate its at-the-market (ATM) issuance program and raise fresh capital.
The estimates are calculated using a methodology from STRC.live. It assumes 40% of volume above $100 represents ATM issuance, with a 2.5% broker commission deducted before estimating implied bitcoin purchases.
Monday saw similar activity, with an estimated 763 BTC linked to STRC trading. That puts the combined two-day total at approximately 1,762 BTC.
How STRC Works
Strategy has described STRC as resembling a short-duration, high-yield savings product.
It pays monthly cash distributions, and the dividend rate is adjusted each month to keep the stock trading near its $100 par value while reducing price swings.
The company recently lifted STRC’s dividend rate to 11.5% — its seventh increase since the product launched.
Proceeds from STRC issuances feed directly into Strategy’s bitcoin buying program, which is funded through a mix of equity offerings, convertible bonds, and preferred stock.
MSTR Pre-Market Moves
Strategy’s common stock, MSTR, rose more than 7% in pre-market trading on Tuesday, reaching around $142 per share.
The move came as bitcoin climbed above $71,000 — its highest level in over a month.
Strategy remains the largest publicly traded corporate holder of bitcoin, having accumulated its position through repeated capital raises across multiple financial instruments.
The $198.7 million STRC volume on Tuesday is the highest recorded for the security so far in 2026.
At current bitcoin prices near $71,000, purchasing 1,000 BTC would require roughly $71 million — well within the range implied by Tuesday’s STRC activity.
MSTR common stock was trading around $142 in pre-market on Tuesday, March 4, 2026.
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