Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC, hit a new all-time high daily trading volume of $1.53 billion on Thursday.
Chairman Michael Saylor announced the milestone on X:
“All-time high volume. $1.53B of liquidity.”
A record-breaking instrument
Thursday’s figure surpassed STRC’s previous daily record of $1.1 billion, set on April 13.
Stretch offers investors an 11.5% dividend without requiring the company to dilute common shares, making it a key vehicle for funding Strategy’s bitcoin acquisitions.
According to the STRC.live tracker, the company could theoretically raise an estimated $735.4 million from Thursday’s performance to purchase around 9,066 BTC — though there is no guarantee Strategy will make a purchase based on funds raised.
Accelerating bitcoin accumulation
Strategy has now purchased 56,770 bitcoin since April and 101,147 bitcoin since March, accelerating its pace after a slower-than-usual February.
Last month, STRC-linked acquisitions reportedly totaled roughly 77,000 BTC through late April — around 10 times the net purchases by all US spot bitcoin ETFs combined over the same period.
As investor demand grows, Strategy has also proposed shifting STRC dividend payments from a monthly to a semi-monthly distribution schedule.
Critics and competition
Not everyone is enthusiastic about the instrument.
Peter Schiff has criticized STRC, describing it as a Ponzi scheme.
Meanwhile, Strive’s competing instrument, the Variable Rate Series A Perpetual Preferred Stock (SATA), is set to shift to daily payments on June 16, signaling growing competition in the preferred stock space for bitcoin treasury companies.
