Strategy Puts STRC At The Core Of Bitcoin Funding

At Strategy, the STRC stock is establishing itself as an increasingly scrutinized financing lever. The sudden surge in trading around this preferred stock launched in summer 2025 raises a specific question: Does Michael Saylor have new leeway to buy BTC ? The answer will depend on a very concrete appointment, with the next document expected by the SEC on March 9, 2026.

The STRC market anticipates a new Strategy purchase

Strategy could still buy bitcoin thanks to STRC sales, “the preferred stock” with variable yield. A sudden resurgence of activity on the stock could generate about 302 million dollars in net proceeds, enough to finance the purchase of about 4,334 BTC.

At this stage, it is a projection reported by the market, not an amount already validated by a regulatory document. While the market speculates on an acceleration of Strategy’s buying capacity via its STRC, the latest document submitted to the SEC remains much more measured.

This gap gives prominence to the news, as the observed dynamic on STRC could signal a new phase of bitcoin accumulation, but only the next regulatory publication will determine if this interpretation was well-founded.

• The model reported is attributed to BitcoinQuant based on 777 million dollars of weekly volume on STRC ;

• Of this total, 97 %, or 755 million dollars, would have been traded above the nominal value of 100 dollars ;

• With a capture rate of 40 %, the estimate leads to about 302 million dollars of potential net proceeds ;

• Friday’s session alone would have concentrated 188 million dollars of volume, representing a purchase potential of about 1,097 BTC ;

• In contrast, the latest document filed with the SEC covering the period closed on March 1 mentions only 7.1 million dollars of net proceeds related to STRC ;

• This same document reports a total ATM financing of 237.1 million dollars, used to purchase 3,015 BTC ;

• The next document expected on March 9 should therefore verify if the observed surge on STRC has actually resulted in a new increase in bitcoin purchases.

STRC settles at the heart of the financing machine

To understand why this movement is closely watched, it is necessary to return to the very structure of STRC. Michael Saylor’s firm completed at the end of July 2025 an IPO of 28,011,111 shares of this preferred stock, at a price of 90 dollars per share, for 2.521 billion gross and 2.474 billion net dollars.

The group immediately allocated this product to the purchase of 21,021 BTC at an average price of 117,256 dollars. Two days later, the company extended the logic with an ATM program of 4.2 billion dollars. The mechanism relies on a variable monthly dividend, designed so that the stock can “trade at or near its nominal value of 100 dollars per share”. As of March 1, 2026, the annualized rate of STRC had been raised to 11.50%, or 0.958333333 dollars per share for the month of March.

Documents filed with the SEC also show that STRC is no longer just financial dressing. On January 12, 2026, Strategy declared the sale of 1,192,262 STRC shares for 119.1 million net dollars, alongside 1.1285 billion raised via MSTR, before buying 13,627 BTC for 1.2471 billion.

On February 17, 2026, the company again reported 78.4 million net dollars from STRC for an acquisition of 2,486 BTC. The regulatory comment is clear: “bitcoin purchases were funded by proceeds from stock sales under the ATM program”. This series of documents establishes STRC as a regular cog in Strategy’s bitcoin financing, not as an isolated experiment.

Behind the stir around STRC, one observation is clear: Strategy is still refining its bitcoin accumulation mechanism, under the watchful eyes of the market and regulator. Michael Saylor considers the quantum threat against Bitcoin still distant, but the immediate challenge remains elsewhere: to know if this sequence will result in new BTC purchases.