MicroStrategy's preferred stock STRC hit a new all-time high daily trading volume of $1.53 billion on May 14, 2026. That beats the previous record of $1.1 billion set just a month earlier on April 13. The surge comes as STRC-linked Bitcoin acquisitions total about 77,000 BTC through late April — roughly ten times the net purchases by all US spot Bitcoin ETFs combined.
Record trading volume
Volume on the 14th climbed to $1.53 billion, a fresh high for the preferred stock that serves as MicroStrategy's central financing vehicle for Bitcoin buys. The jump from April's $1.1 billion mark suggests growing appetite for the instrument, which pays an 11.5% dividend rate — unchanged since March 2026. The exchange handled the spike without major issues, according to available data.
STRC's role in Bitcoin acquisition
STRC isn't just a trading vehicle; it's how MicroStrategy funds much of its Bitcoin buying. Through late April, STRC-linked purchases had brought in roughly 77,000 BTC. That's a massive figure — compare it to the combined net inflows of all US spot Bitcoin ETFs over the same stretch, and STRC's haul is ten times bigger. The structure gives MicroStrategy a direct capital-market pipeline to stack sats without diluting common equity as heavily as a straight stock sale would.
Dividend changes in the works
MicroStrategy has proposed shifting STRC dividend payments from monthly to semi-monthly distribution — a move that would get cash to holders faster. No vote date has been set yet. Separately, Strive's SATA preferred stock will transition to daily dividend payments starting June 16, 2026. That's a different issuer and different ticker, but the trend toward more frequent payouts is worth watching.
Critics weigh in
Not everyone is impressed. Peter Schiff, the longtime gold bug and Bitcoin skeptic, called STRC a Ponzi scheme. He didn't offer evidence, and the comment didn't move the stock. But the criticism underlines the ongoing divide over how to value a preferred share that's effectively a leveraged bet on Bitcoin's price.
What's next? The dividend-frequency proposal is still on the table, and Strive's SATA goes daily on June 16. If STRC volume stays elevated, it could draw more regulatory attention — or just more traders chasing yield.
