Bitcoins
Data from STRC.live and market trackers indicate that Michael Saylor’s bitcoin‑focused firm, Strategy, has purchased an estimated 1,200 BTC so far today via its preferred equity issuance.
Yesterday, on March 10, Strategy’s Variable Rate Series A Preferred Stock (STRC) posted a record $409 million in daily trading volume, accompanied by 3% 30-day volatility and a one-month VWAP near $99.78, the highest sustained average since issuance.
According to on‑chain indicators and STRC.live X posts, over 2000 bitcoin were accumulated that day, marking one of the largest one‑day buying events since the instrument’s launch and surpassing prior highs.
Strategy, the world’s largest public corporate holder of Bitcoin, has started to really lean on its Stretch (STRC) perpetual preferred shares to finance additional BTC purchases.
By amending its at‑the‑market program earlier this year, the company enabled multiple agents to sell STRC concurrently, boosting liquidity and enabling significant capital raises specifically earmarked for Bitcoin acquisition.
This latest estimated purchase comes on the heels of a $1.28 billion acquisition of 17,994 BTC announced in a recent SEC filing, which lifted Strategy’s total holdings to approximately 738,731 BTC, or roughly 3.5 % of Bitcoin’s circulating supply.
That buy was funded through a combination of common stock and STRC issuance, underscoring the firm’s multi‑pronged funding approach.
Bitcoins How does Strategy’s STRC work?
STRC functions as a bridge between traditional income investors, who prefer predictable distributions, and Strategy’s Bitcoin-heavy balance sheet, which carries both long-term asymmetry and short-term volatility.
The preferred stock’s variable-rate structure maintains demand near its $100 par value while paying a monthly dividend yielding roughly 11.5% annually, effectively translating Bitcoin treasury economics into a format accessible to fixed-income investors.
The combination of record liquidity and low volatility signals a shift in the investor base toward income-focused capital, which stabilizes trading behavior. These trends are early signs of product-market fit: a financial instrument meeting structural demand rather than relying on promotion.
For corporate leaders evaluating Bitcoin treasury strategies, STRC represents a way to add Bitcoin into broader capital structures.
It channels capital from multiple investor classes toward a common strategic reserve, potentially reshaping how companies finance operations and deploy Bitcoin as a structural asset.
At the time of writing, Bitcoin is trading near $71,000 and Strategy’s stock (MSTR) is trading down half a percentage point on the day.
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
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