Strategy’s STRC posts record $1.53B single-day volume

Strategy’s Series A Perpetual Stretch Preferred Stock (STRC) reached a record $1.53 billion in trading volume on Thursday, surpassing the prior daily high of $1.1 billion set on April 13. Executive Chairman Michael Saylor posted on X highlighting the increased liquidity around the preferred shares.

STRC pays an 11.5% dividend that has not changed since March. The company has proposed shifting dividend payments for STRC from a monthly schedule to semi-monthly distributions. Separately, the Variable Rate Series A Perpetual Preferred Stock (SATA) will move to daily payments beginning June 16.

Strategy, formerly MicroStrategy, has used STRC as part of a financing program to fund Bitcoin purchases. The company reports that STRC-linked transactions contributed roughly 77,000 BTC through late April, a figure the company says is about ten times the net purchases by all U.S. spot Bitcoin exchange-traded funds combined.

The preferred-stock financings have drawn criticism from some market participants. Economist and Bitcoin critic Peter Schiff described STRC as a Ponzi scheme. The company disputes that characterization, pointing to the structure of the financing and the dividend terms and noting investor demand and liquidity as factors behind recent trading activity.