Michael Saylor's Strategy Eyes Bitcoin Purchases with STRC Stock Proceeds

Michael Saylor's Strategy is considering acquiring more Bitcoin (BTC) in the upcoming weeks, leveraging funds from its STRC stock sales. According to Cointelegraph, Strategy's STRC preferred stock has emerged as a yield-based funding mechanism for Bitcoin acquisitions. This week's surge in STRC trading could potentially unlock approximately $302 million in proceeds. Strategy, led by Michael Saylor, holds around $50 billion in Bitcoin, the largest amount owned by any public company. The STRC stock, an income-focused preferred stock, was introduced in July 2025 to support the company's Bitcoin accumulation strategy. During its initial public offering, Strategy raised about $2.521 billion gross and $2.474 billion net, which was used to acquire 21,021 BTC at an average price of approximately $117,256. The company later expanded this model by launching a $4.2 billion STRC at-the-market (ATM) program on July 31, 2025, allowing for gradual sales of preferred shares based on market demand. The STRC mechanism is most effective when the stock trades near or above its $100 target. Strategy pays a variable monthly yield to investors, adjusting it to maintain the stock's proximity to its par value. A higher yield can support the price when it falls below par, while a lower yield can temper 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 essence, STRC converts investor demand for yield into funding for additional BTC purchases. In January, Strategy sold approximately 1.19 million STRC shares, generating $119.1 million in net proceeds, alongside $1.12 billion raised through MSTR sales. This capital was used to purchase 13,627 BTC for roughly $1.25 billion. In February, STRC proceeds amounting to $78.4 million facilitated the purchase of 2,486 BTC net. Strategy may soon raise over $300 million through STRC stock sales, potentially enabling Michael Saylor to acquire around 4,300 Bitcoin, as estimated by BitcoinQuant. This projection is based on STRC's trading activity this week, with BitcoinQuant's model indicating about $777 million in total volume, with approximately 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, sufficient to purchase about 4,334 BTC, based on average Bitcoin prices ranging from $68,000 to $73,000 during market hours. Friday alone witnessed a record $188 million in STRC trading volume, suggesting enough potential proceeds to fund the purchase of around 1,097 BTC, according to the same model. However, these figures remain speculative. 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 results in a significantly larger Bitcoin acquisition will become clearer in the company's next SEC filing, scheduled for release on March 9.