Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, sold a record amount of its perpetual preferred equity, Stretch (STRC), after amending its sales rules on Monday.
Strategy is estimated to have bought 1,420 Bitcoin ($BTC) in a single day after selling roughly 2.4 million STRC shares through its at-the-market (ATM) program, according to data from STRC.live. The amount marks the largest estimated daily issuance of STRC and $BTC purchases, surpassing the previous record of 1,069 $BTC, according to a Monday X post from STRC.live.
Strategy announced a major rule change to its at-the-market (ATM) share sales program on Monday, allowing a second agent to sell the securities before the US market opens and after it closes, easing a prior restriction limiting such sales to one agent per trading day.
STRC is one of the major pillars of Strategy’s Bitcoin buying
STRC is Strategy’s variable-rate perpetual preferred stock, launched in July 2025 as one of several securities the company uses to help fund its Bitcoin treasury strategy, alongside other ATM programs such as Stride (STRD), Strife (STRF), Strike (STRK) and common stock (MSTR). Strategy says the stock pays monthly variable cash dividends, with the annualized rate for March set at 11.5%.
Some market observers said the updated sales structure could make it easier for Strategy to issue stock more efficiently during premarket and after-hours trading, potentially accelerating future capital raises tied to Bitcoin purchases.
“A lot more capital will be raised, and a lot more Bitcoin will be purchased,” market observer Ragnar said.
According to STRC.live, last week’s estimate suggested STRC proceeds would fund a weekly purchase of approximately 4,300 $BTC ($303 million). However, the actual purchase exceeded expectations, as Strategy reported selling around $378 million in STRC in its filing with the SEC on Monday.
Related: Oil tumbles, crypto gains as Trump sends mixed signals over Iran war
The company reported a massive $1.3 billion $BTC purchase, marking one of its largest Bitcoin acquisitions on record. Common stock MSTR accounted for the largest proceeds in reported sales, generating nearly $900 million in proceeds.
The results for STRC underscore ongoing rapid acceleration in investor interest, despite the Bitcoin price trading below Strategy’s reported average cost basis of $75,862.
Magazine: The debate over Bitcoin’s four-year cycle is over: Benjamin Cowen
Leave a Reply
You must be logged in to post a comment.