Strategy Launches Standing STRC Buyback to Support Par Value
Strategy, the world’s largest corporate holder of bitcoin, has increasingly relied on common and preferred stock to finance its cryptocurrency accumulation strategy. STRC is a perpetual preferred security with a $100-per-share liquidation preference. A sustained discount to that level could undermine investor confidence in the instrument and make future capital raising more expensive, giving the company an incentive to support its market price.
Strategy said on July 28, 2026, that it spent about $25 million repurchasing STRC shares trading below their liquidation preference and adopted a standing policy for additional purchases when the security falls under $100. The company said funding for the buyback is separate from its existing $3.75 billion reserve, meaning the purchases will not reduce funds earmarked to meet interest obligations and preferred-stock dividend payments.
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The history behind this eventStrategy’s STRC Trading Volume Hits Record, With 7,800-Bitcoin Purchase Initially Expected
Strategy uses its STRC perpetual preferred stock to raise capital, creating an ongoing funding channel for Bitcoin purchases. Its at-the-market program allows the company to issue additional shares depending on market conditions. STRC’s liquidity and market demand will directly affect Strategy’s ability to expand its Bitcoin holdings, as well as investors’ assessment of its financing ceiling and dilution risks.
The latest reports revised STRC’s Monday trading volume to $1.5 billion from an initial estimate of $1.16 billion and said it funded Strategy’s purchase of 11,707 Bitcoin, above the earlier estimate of 7,800. Trading volume could set another record on Tuesday, while Delphi Digital warned that the STRC financing model faces a $28 billion scale ceiling.
Strategy Issues STRC Shares to Add 1,000 Bitcoin
Strategy (MSTR) launched its floating-rate perpetual preferred stock, Stretch (STRC), in July 2025, using at-the-market issuance to raise funds for additional Bitcoin purchases while paying monthly dividends. The instrument converts capital-market demand into crypto-asset reserves, helping make Strategy the world’s largest publicly traded corporate holder of Bitcoin.
On March 3, 2026, STRC trading volume reached $198.7 million, with about $177 million transacted above its $100 par value, enough to fund an estimated purchase of about 1,000 BTC. On March 9, the company sold another roughly 2.4 million STRC shares, financing an estimated purchase of 1,420 BTC and setting a single-day record.
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