Strategy appears to have purchased more than 4,000 bitcoin on Thursday, according to estimates derived from real-time trading data and community tracking dashboards monitoring the firm’s preferred equity sales.
Data from STRC.live and market trackers suggests the purchases were funded through heavy issuance of the company’s Variable Rate Series A Preferred Stock (STRC), a perpetual preferred instrument that Strategy has increasingly used to raise capital for bitcoin accumulation.
By end of day in New York, trading activity implied the firm had already raised enough capital to acquire more than 4,000 BTC, marking the largest single-day bitcoin purchase funded through STRC since the instrument launched.
The surge follows unusually strong activity earlier in the week. On March 10, STRC recorded a record $409 million in daily trading volume while maintaining roughly 3% 30-day volatility and a one-month volume-weighted average price near $99.78.
On-chain indicators and community monitoring suggested that day’s activity funded the purchase of more than 2,000 BTC, already one of the largest one-day accumulations tied to the instrument.
Thursday’s pace easily surpassed that figure.
Strategy, already the largest public corporate holder of bitcoin, has increasingly leaned on its preferred equity program to finance additional acquisitions.
Earlier this year the company amended its at-the-market (ATM) program, allowing multiple agents to sell STRC shares simultaneously. The change increased liquidity in the instrument and made it easier for Strategy to raise large amounts of capital quickly, with proceeds directed toward bitcoin purchases.
Real-time dashboards tracking STRC trading attempt to estimate how many shares Strategy itself is issuing versus secondary market trades.
Because the company previously indicated it may sell shares when the price trades above its $100 stated amount, analysts can approximate capital raised when trading occurs above that threshold.
A recent SEC filing disclosed that the company purchased 17,994 BTC between March 2 and March 8 for approximately $1.28 billion. That acquisition lifted the firm’s total holdings to about 738,731 BTC, representing roughly 3.5% of bitcoin’s circulating supply.
The filing showed the purchase was funded through a combination of $377.1 million in STRC sales and $899.5 million raised through common stock issuance.
Based on those figures, STRC accounted for about 29.5% of the funding for that five-day accumulation period, equivalent to roughly 5,300 BTC acquired through preferred share sales.
If Thursday’s estimates prove accurate, the day’s purchases alone could exceed the average daily bitcoin acquisition pace seen during that earlier buying window.
The data remains unofficial. Strategy typically confirms purchases later through SEC filings or public disclosures.
How does Strategy’s STRC work?
STRC acts as a bridge between traditional income investors and Strategy’s Bitcoin-focused balance sheet. Income investors typically seek steady payouts, while Strategy’s large Bitcoin holdings bring long-term upside along with short-term price swings. The preferred stock helps connect these two profiles.
The security is structured to keep demand near its $100 par value while paying a monthly dividend that yields about 11.5% annually. In effect, it converts the economics of a Bitcoin treasury into a format that appeals to fixed-income investors who prioritize regular income.
Strong liquidity and relatively low volatility suggest that the investor base is shifting toward income-focused capital. That shift can help stabilize trading activity compared with instruments driven mainly by speculation.
These early results point to product-market fit. Rather than relying on marketing or hype, the structure appears to meet a clear demand among investors seeking yield tied to Bitcoin exposure.
For corporate leaders considering Bitcoin treasury strategies, STRC offers a way to integrate Bitcoin into broader capital structures. It allows companies to draw funding from multiple investor groups while building a shared strategic reserve around the asset.
At the time of writing, Bitcoin trades near $70,000, while shares of MicroStrategy (MSTR) are down about 0.75% on the day.
Source: https://bitcoinmagazine.com/news/strategy-mstr-bought-over-4000-bitcoin
