Key Insights:
- MicroStrategy added 1,420 BTC using proceeds from its STRC preferred equity, continuing its aggressive Bitcoin treasury strategy.
- STRC trading volume surged to nearly $300M, well above the $124M 30-day average, highlighting strong investor demand for the instrument.
- With Bitcoin trading around $68,000 and MicroStrategy stock rising about 3–4%, the move underscores sustained institutional interest in Bitcoin exposure.
MicroStrategy Inc. (MSTR) has once again tapped its Stretch (STRC) preferred stock to fund a massive bitcoin purchase.
On Monday, March 9, the company sold roughly 2.9 million shares, raising nearly $300 million. According to data from STRC.live, this capital funded about 1,420 Bitcoin buys that day.
Meanwhile, this follows a week in which MicroStrategy sold 3.78 million STRC shares (netting $377.1M) and used the proceeds to acquire 17,994 BTC ($1.28B at $70,946/coin).
These confirmed figures come from the company’s 8-K filings and market trackers, and they cement MicroStrategy’s use of preferred equity issuance as a primary funding mechanism for its Bitcoin treasury.
MicroStrategy STRC Issuance Fuels Bitcoin Accumulation
MicroStrategy used its ATM offering to raise fresh cash for bitcoin. In an 8-K dated March 9, 2026, the firm reported selling 3,776,205 STRC shares between March 2 and March 8. Net proceeds amounted to $377.1 million.
Meanwhile, that cash funded the purchase of 17,994 BTC (aggregate $1.28B, $70,946 average price) during that week. Notably, about 30% of those coins (5,315 BTC) were funded by STRC sales.
Within that week, on Monday’s STRC.live, it was reported that roughly 2.9 million STRC shares traded on March 9, with nearly $300M in value.
Meanwhile, using an industry rule of thumb (assuming about 40% of large trades are ATM issuance), analysts estimate roughly 1,420 BTC were bought on Monday alone.
In other words, Monday’s record STRC issuance appears to have directly financed over $100 million of bitcoin purchases.
By contrast, the 30-day average STRC trading volume was about $124M, highlighting how exceptional the day was.
As BitcoinTreasuries.net notes, this level of demand far exceeded prior projections for MicroStrategy, pointing to accelerating investor interest.
STRC: A High-Yield Funding Instrument
The Stretch preferred stock (STRC) is a perpetual preferred share with a variable monthly dividend. It launched in July 2025 to help fund the Bitcoin (BTC) purchase of MicroStrategy.
The company’s management has positioned STRC as a “short-duration, high-yield savings instrument,” adjusting its dividend to keep the share price near par ($100).
In fact, Strategy (formerly MicroStrategy) recently boosted the STRC dividend to 11.50% annualized for March 2026, the seventh consecutive monthly hike, to attract income-oriented investors.
According to Strategy’s website and executives, this yield adjustment is intended to “encourage trading around STRC’s $100 par value and to help strip away price volatility.”
Meanwhile, the surge in STRC volume reflects that demand. With the share trading at roughly $100, each ATM sale of STRC shares generates nearly $100 in proceeds per share.
Monday’s $300M in STRC trades implies about 3 million shares (at par) were involved, consistent with the published data.
Chaitanya Jain, Strategy’s Bitcoin (BTC) strategy manager, has noted that STRC “went through a seasoning phase” and is now stabilizing: the firm built a cash reserve covering over two years of dividends and steadily raised the yield to 11.5% to attract yield-focused investors.
However, STRC now trades tightly near par with low volatility, making it an efficient funding vehicle. By tapping preferreds like STRC, MicroStrategy can raise capital for BTC purchases without issuing new common stock and diluting existing shareholders.
Market Reaction and Outlook for MicroStrategy
The markets gave a warm welcome to the latest move of MicroStrategy, i.e., the fresh issuance of STRC shares paired with another Bitcoin pickup.
On Tuesday morning, March 10, after Monday’s close, MSTR shares were up nicely, climbing 3% to 4%. They were changing hands in the mid-$140s as people digested the news and liked what they saw.
Bitcoin itself was holding steady around $68,000, notching a small but solid gain for the day. The whole picture pointed to consistent demand. Big players, institutions especially, seem to be easing back into the space without much hesitation.
MicroStrategy now holds about 738,731 Bitcoin (BTC) in its corporate treasury. That stash represents roughly 3.4% of the total Bitcoin currently in circulation, reinforcing the firm’s position as the largest public-company holder of the asset.
Nevertheless, management appears undeterred. Jain told BitcoinTreasuries that as awareness of STRC grows, demand is “only going to accelerate” and could fund over 18,000 BTC buys per month at current issuance levels.
This aggressive strategy distinguishes Strategy from other bitcoin holders. By marrying traditional finance instruments with crypto accumulation, the firm is effectively building what Jain calls the “ultimate Bitcoin accumulation machine.”
The combination of STRC sales and common stock issuances has already enabled nearly $8 billion of preferred funding, last year alone.
If STRC demand continues at this pace, MicroStrategy could further cement its status as the largest corporate holder of bitcoin.