Three Companies Add Strategy’s STRC to Corporate Treasuries

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, the world’s largest publicly traded corporate holder of Bitcoin, launched STRC perpetual preferred stock with no maturity date on Nasdaq in July 2025. The shares pay monthly cash dividends and raise funds used mainly to buy Bitcoin. They give investors yield and indirect Bitcoin exposure, while providing DeFi with a new underlying asset for tokenized credit and structured-yield products.

As of May 7, 2026, Saturn held about $50 million of STRC and Apyx held nearly $130 million. Strategy said more than $270 million of STRC had entered DeFi. Data as of April 15 showed that nearly $200 million had been tokenized on Ethereum and about $100 million was trading on Pendle. STRC’s annualized dividend yield was 11.5%.

Strategy, formerly known as MicroStrategy, has continued raising funds through equity and debt instruments to buy Bitcoin under Michael Saylor, making BTC a core asset. The company recently raised capital through STRC perpetual preferred stock carrying an 11.5% dividend rate. Saylor said an annual Bitcoin gain of more than 2% would be enough to cover the dividend, underscoring the company's highly leveraged capital strategy.

Strategy added 3,468 Bitcoin on April 10, according to the latest report, which did not disclose the dollar value or average purchase price of the transaction. The purchase brought the company's total Bitcoin holdings close to 770,000 BTC. As proceeds raised through STRC continue to be converted into Bitcoin, the company's holdings are moving toward a new milestone.

Strategy, the world's largest corporate holder of Bitcoin, launched perpetual preferred stock STRC in July 2025 to raise U.S. dollar funding through share issuance and buy more Bitcoin. STRC targets a price near its $100 par value, with its high dividend designed to attract income-focused investors while allowing the company to continue expanding its crypto holdings.

Strategy said STRC's annualized dividend rate would remain at 11.5% in April 2026, ending a run of seven consecutive increases since the product's launch. With STRC's market price gradually stabilizing and approaching its $100 par value, the company will not raise the rate this month but will continue using the stock as a fundraising vehicle for future Bitcoin purchases.

Strategy, formerly MicroStrategy, raises money through stock and bond offerings to buy Bitcoin, making MSTR a leveraged proxy for the cryptocurrency. Its Nasdaq-listed perpetual preferred security, STRC, carries an annual dividend rate of 11.25% and pays monthly cash dividends, with proceeds also used to acquire more Bitcoin. Anchorage Digital has long provided trading and custody services.

Anchorage Digital said on February 25, 2026, that it had added STRC to its own balance sheet, without disclosing the purchase amount or exact acquisition date. Goldman Sachs data showed that Strategy had become the most shorted U.S. large-cap stock. The company separately spent $39.8 million on February 23 to buy 592 Bitcoin, lifting its total holdings to 717,722 Bitcoin, worth about $46.68 billion.