Strategy's preferred stock STRC hit a record single-day trading volume of $1.53 billion on May 14, putting the company in position to raise roughly $735 million for new Bitcoin purchases. That sum, based on data from STRC.live, would be enough to buy about 9,066 Bitcoin at current prices. But Strategy hasn't said whether it will pull the trigger.
The STRC Engine
STRC — officially the Variable Rate Series A Perpetual Stretch Preferred Stock — pays an 11.5% dividend without diluting common shares. It has become Strategy's primary capital source for Bitcoin buys in 2026. The May 14 volume was an all-time high, blowing past any previous single-day figure. If Strategy chooses to issue more shares at that volume level, the math works out to $735 million in fresh capital, enough to add another 9,066 Bitcoin to its already enormous stash.
Strategy's Bitcoin Hoard
Strategy now holds 818,869 Bitcoin, worth about $66 billion at current prices — far and away the largest corporate Bitcoin reserve globally. The company has been on a buying spree: 56,770 Bitcoin since April 2026, and over 101,000 since March. Bitcoin's price has climbed to around $81,000, above Strategy's average purchase price of $75,543, putting its holdings up about 7% on paper. That's a sharp reversal from Q1, when the firm reported a $1.25 billion net loss after Bitcoin's decline.
Wider Corporate Adoption
Strategy isn't alone. Nearly 200 public companies now hold Bitcoin on their balance sheets, though none comes close to Strategy's scale. In Tokyo, Metaplanet has raised funds through its own preferred stock instruments, MARS and MERCURY, to buy Bitcoin. Meanwhile, Strive — another issuer — announced that its preferred stock SATA will begin paying daily dividends starting June 16, 2026. The preferred stock model is catching on as a way to raise Bitcoin-buying capital without selling common equity.
Whether Strategy actually uses the May 14 volume window to issue new shares and buy more Bitcoin is the open question. The company has not signaled any immediate plans. Given its history of aggressive accumulation, a purchase wouldn't be a surprise. But the record volume itself shows just how much firepower the STRC structure gives Strategy — and how the market is willing to provide it.
