Bitaigen Research 
In this article we deeply analyze the operating mechanism and market performance behind the STRC preferred shares launched by MicroStrategy, assess their potential impact on Bitcoin holdings, and dissect the drivers behind recent trading activity. Through a professional lens, we aim to help readers fully understand the risks and opportunities of this innovative financing tool. Please continue reading.
What is STRC stock?
MicroStrategy introduced the STRC preferred share in July 2025, positioning it as a yield‑oriented financing instrument intended to fund its Bitcoin accumulation program. The company (MSTR) currently holds roughly $50 billion worth of Bitcoin, the largest among all listed companies. At the initial offering, STRC raised about $2.521 billion, with net proceeds of $2.474 billion, after which the firm purchased 21,021 BTC at approximately $117,256 per coin.
Subsequently, on July 31 of the same year, MicroStrategy launched a $4.2 billion STRC market (ATM) program, allowing the preferred shares to be gradually placed into the market rather than being sold in a single block.
How does STRC work?
The mechanism performs best when the STRC trading price is close to or exceeds its $100 face value. To keep the share price near par, MicroStrategy pays holders a floating monthly yield: when the price falls below par, the yield is increased to provide support; when the price trades above par, the yield is reduced to temper demand. As of March 2026, STRC’s annualized rate stood at 11.50%, equivalent to roughly $0.958 per share per month.
In short, STRC converts investors’ yield expectations into cash flow that the company can use to buy more Bitcoin.
STRC price performance over the past month. Source: BitcoinQuant.CO
Key takeaways
- STRC preferred shares have become MicroStrategy’s financing channel for purchasing Bitcoin through generated yield.
- This week the stock saw heightened trading activity, potentially freeing about $302 million of net proceeds.
Recent trading and Bitcoin buying intensity
In January 2024, MicroStrategy sold roughly 1.19 million STRC shares (netting $119.1 million) and combined that with $1.12 billion raised from MSTR stock, using the funds to acquire 13,627 BTC valued at about $1.25 billion. In February it deployed an additional $78.4 million, netting another 2,486 BTC.
This week, BitcoinQuant’s model shows total STRC turnover of approximately $777 million, of which about 97 % ($755 million) traded above the $100 face value. Assuming a 40 % capture rate, net proceeds would be around $302 million—enough to buy roughly 4,334 BTC at an average price range of $68,000‑$73,000. On Friday alone, turnover exceeded $188 million, corresponding to a potential purchase of about 1,097 BTC.
However, MicroStrategy’s latest SEC filing only reports STRC sales of $7.1 million, which have been used to acquire 3,015 BTC. Whether the current trading surge will translate into larger Bitcoin purchases in the coming weeks will be disclosed in the company’s next report, scheduled for submission on March 9.
STRC ATM analysis. Source: BitcoinQuant
That concludes the core content regarding the rise in STRC stock trading activity and the attention on MicroStrategy’s Bitcoin (BTC) purchase scale. For further updates on STRC trends and MicroStrategy’s potential Bitcoin buying power, stay tuned to Bitaigen (BitRoot) reports.
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