Strategy’s STRC preferred stock recorded a record trading day on April 13, with volume hitting approximately $1.1 billion. This represents a nearly 47% increase from the instrument's previous trading high.
The surge in volume highlights the growing role of STRC as a primary funding vehicle for the firm’s aggressive bitcoin acquisition strategy. The perpetual preferred stock, issued under the firm’s at-the-market program, serves as a conduit for raising cash used in weekly treasury purchases.
Michael Saylor noted the scale of the liquidity on X, stating that STRC saw $1.156 billion in liquidity with minimal price movement, closing at par. The company recently purchased 13,92 amounts of bitcoin for roughly $1 billion, bringing its total holdings to 780,897 BTC.
Funding the 42/42 plan
These recent acquisitions were supported by the sale of more than 10 million STRC shares. STRC is a central component of Strategy’s broader '42/42' capital plan, which aims to raise $84 billion for bitcoin purchases through 2027.
The plan utilizes various instruments, including STRK, STRF, and STRD preferred stocks, alongside common stock issuances. Investment strategist Lyn Alden noted earlier this week that STRC has grown to be larger than all of Strategy’s other preferred stocks combined.
Market observers are attempting to quantify the resulting bitcoin demand from this trading activity. Data from STRC.live suggested that roughly 10.6 million shares traded above key thresholds could correspond to approximately 7,130 BTC.
Analysts caution that these estimates vary based on pricing assumptions and execution timing. Strategy does not convert trading volume into bitcoin purchases on a one-to-one basis, as actual acquisitions depend on specific issuance timing and capital allocation decisions.