Record STRC Trading Volume Fuels Bitcoin Acquisition

TLDR

• Strategy’s preferred stock STRC reached a record $1.53 billion in trading volume on Thursday, exceeding four times its 30-day average.
• This surge funded the acquisition of 11,707 bitcoin via Strategy’s at-the-market offering program.
• STRC declined nearly 1% in pre-market trading on Friday as it began trading ex-dividend, closing around $99.12.
• Strategy also announced plans to repurchase about $1.50 billion of its 0% convertible senior notes due 2029 for approximately $1.38 billion in cash.
• MSTR common stock fell 2% to $182.50 in pre-market Friday, while bitcoin dropped to $80,500.

(SeaPRwire) –   Strategy’s preferred stock STRC achieved its highest-ever single-session trading volume on Thursday, totaling $1.53 billion—more than quadruple its 30-day average of roughly $331 million.

MSTR common stock decreased 2% to $182.50 during pre-market trading on Friday; bitcoin also fell to $80,500 at that time.

Strategy Inc, MSTR

The significant increase in volume occurred just before STRC’s ex-dividend date—a recurring pattern where dividend-paying securities typically experience heightened activity in the final trading session prior to the cutoff for receiving the next payout.

STRC offers an annual dividend of 11.5%, disbursed monthly in cash. Most trades executed on Thursday settled at or above the stock’s $100 par value.

By Friday’s pre-market session, STRC had retreated to $99.12, down slightly under 1%. Such a decline is typical following an ex-dividend adjustment—the price generally drops by an amount approximating the value of the upcoming dividend payment.

Bitcoin Purchase Driven by Trading Surge

According to data from BitcoinQuant, the unprecedented trading volume enabled Strategy to finance the purchase of 11,707 bitcoin. The acquisition was completed through the company’s at-the-market program, which allows Strategy to issue new securities to raise funds specifically for bitcoin acquisitions.

Strategy remains the world’s largest publicly traded corporate holder of bitcoin. These ATM-funded purchases are central to its ongoing strategy of expanding its bitcoin reserves.

$1.5 Billion Note Repurchase Initiative

In another major announcement, Strategy revealed it intends to repurchase approximately $1.50 billion of its outstanding 0% convertible senior notes maturing in 2029. The estimated cash outlay for this buyback stands at around $1.38 billion.

The repurchase price is partially determined by the daily volume-weighted average price of Strategy’s Class A common stock. Settlement is anticipated on or around May 19.

Funding for the repurchase will derive from available cash balances, proceeds generated through the ATM offering program, and possibly from bitcoin sales.

Following the cancellation of the repurchased notes, about $1.50 billion in principal amount of the 2029 notes will remain outstanding.

These two simultaneous actions—record preferred stock volume and a substantial convertible note repurchase—have drawn considerable attention to Strategy’s capital structure as the weekend approaches.