On Monday, Stretch (STRC), the perpetual preferred security issued by Strategy (MSTR) to finance its bitcoin acquisitions, experienced unprecedented trading volume. This enabled the company to execute its largest single-day bitcoin purchase through its at-the-market (ATM) program.
The world’s foremost publicly traded bitcoin holder is thought to have added approximately 7,800 BTC, as reported by STRC.live, with STRC trading volumes reaching $1.16 billion—a figure that quadruples the previous month’s average of $278 million. This development follows Strategy’s recent acquisition of $1 billion worth of bitcoin, entirely funded through STRC issuance, which offers an 11.5% annual dividend paid in cash monthly, while maintaining a par value of $100 throughout trading.
Typically, the day preceding the ex-dividend date—the date determining eligibility for the next dividend payment—experiences peak trading volumes. Since this occurs on Wednesday, Tuesday’s trading session might surpass Monday’s record-breaking activity.
As it stands, STRC boasts a market capitalization of $6.4 billion, outstripping the combined market caps of MSTR’s other preferred securities: STRD at $1.1 billion, STRK at $1 billion, and STRF at $1.2 billion, per data from the MSTR dashboard.
Strategy’s common stock witnessed a 2.9% rise on Monday and was trading 3.7% higher in pre-market sessions.