Strategy's STRC stock trading surge: How much Bitcoin can Saylor buy?

Michael Saylor’s Strategy may purchase more Bitcoin (BTC) in the coming weeks through the proceeds from its STRC stock sales.

Key takeaways:

• Strategy’s STRC preferred stock has become a yield-based funding tool for its Bitcoin purchases.

• This week’s STRC trading surge could unlock about $302 million in proceeds.

What is STRC stock?

Michael Saylor’s Strategy (MSTR) owns about $50 billion in Bitcoin, the highest by any public company on record.

Stretch (STRC) is Strategy’s income-focused preferred stock launched in July 2025 to raise capital for its Bitcoin accumulation strategy.

In its IPO, the company raised about $2.521 billion gross and $2.474 billion net. It then used those proceeds to acquire 21,021 BTC at an average price of about $117,256.

Strategy later expanded that model by launching a $4.2 billion STRC at-the-market (ATM) program on July 31, 2025, allowing it to sell preferred shares gradually into market demand rather than all at once.

How does STRC work?

The mechanism works best when STRC trades near or above its $100 target. For that, Strategy pays a variable monthly yield to investors, adjusting it to keep the stock close to its par value.

Higher yield can support the price when it falls below par, while a lower yield can cool demand when it rises too far above it. For March 2026, the annualized STRC rate is 11.50%, or about $0.958 per share monthly.

In short, STRC turns investor demand for yield into funding for more BTC purchases.

For example, in January, Strategy sold about 1.19 million STRC shares for $119.1 million in net proceeds, alongside $1.12 billion raised through MSTR sales.

It used the combined capital to purchase 13,627 BTC for roughly $1.25 billion.

In February, STRC proceeds worth $78.4 million were used in the purchase of 2,486 BTC net.

Saylor may have $302 million in STRC proceeds

Strategy may soon raise over $300 million through sales of its STRC preferred stock, potentially giving Michael Saylor enough firepower to buy roughly 4,300 Bitcoin.

The projection is based on STRC’s trading activity this week. BitcoinQuant’s model shows about $777 million in total volume, with roughly 97%, or $755 million, traded above the stock’s $100 par value.

Using a 40% capture rate, the model estimates around $302 million in net proceeds, enough to purchase about 4,334 BTC, based on average Bitcoin prices of $68,000 to $73,000 during market hours.

Friday alone saw a record $188 million in STRC trading volume, implying enough potential proceeds to fund the purchase of around 1,097 BTC, based on the same model.

Related: Michael Saylor’s Strategy buys $204M of Bitcoin in 101st purchase

The figures remain speculative for now, however. Strategy’s latest filing showed only $7.1 million in STRC sales contributing to a broader 3,015 BTC purchase.

Whether this week’s trading surge translates into a much larger Bitcoin buy should become clearer in the company’s next SEC filing, releasing on March 9.