Strategy’s STRC hits $1.1 billion volume as preferred stock drives Saylor’s bitcoin buying engine

MicroStrategy's STRC preferred stock experienced a record trading day on April 13, with approximately $1.1 billion in volume, a significant increase from its previous high. This surge highlights the growing importance of STRC in funding the company's aggressive strategy of accumulating bitcoin. The perpetual preferred stock, issued under an at-the-market program, is increasingly serving as the primary mechanism for raising cash that MicroStrategy then uses for its regular bitcoin treasury purchases. Michael Saylor noted the substantial liquidity of $1.156 billion in STRC with minimal price impact. This funding mechanism is part of MicroStrategy's "42/42" plan to raise $84 billion for bitcoin purchases by 2027. The recent trading activity suggests STRC is becoming a dominant component of this plan, with some market observers estimating that the trading volume could correspond to significant bitcoin acquisitions, although MicroStrategy does not directly convert trading volume into bitcoin purchases on a one-to-one basis.

(Source：The Block)