Strategy's perpetual preferred security, STRC, recorded a record-breaking $1.16 billion in daily trading volume on Monday, far outpacing its 30-day average of $278 million.
Data from STRC.live indicates the surge likely facilitated the purchase of approximately 7,800 BTC through the company's at-the-market program. This move would represent the largest single-day addition of Bitcoin since the preferred stock's launch.
The massive volume follows a $1 billion Bitcoin acquisition by Strategy last week, which was funded entirely through STRC. The security offers investors an 11.5% annual dividend, paid monthly in cash.
Market cap surge
STRC's market capitalization has climbed to $6.4 billion. This figure now exceeds the combined value of Strategy's other preferred securities, including STRD ($1.1 billion), STRK ($1 billion), and STRF ($1.2 billion), according to the MSTR dashboard.
Trading activity may intensify in the coming days. Analysts note that volume typically peaks on the day preceding the ex-dividend date, which falls this Wednesday. This trend suggests Tuesday's trading figures could potentially surpass Monday's record.
While the preferred security maintained a $100 par value throughout the session, the company's common stock saw gains. The stock rose 2.9% during Monday's session and climbed another 3.7% in pre-market trading.
This surge occurs as Bitcoin prices hit four-week highs above $74,000. Market participants are monitoring the $75,000 level, where dealer hedging dynamics could increase price volatility.
