Strategy (MSTR) sold more shares of its perpetual preferred stock, Stretch (STRC), on Tuesday to buy about 1,000 bitcoins. in the largest single-day increase for the instrument since it began trading in July 2025, according to data from STRC.live.
Strategy is the largest publicly traded bitcoin holder, and revenue tied to STRC’s trading activity supports its bitcoin accumulation strategy. Tuesday’s session saw $198.7 million in total trading volume, compared to a 30-day average of $123.3 million, according to a company dashboard.
About $177 million of the total was traded above STRC’s $100 face value, the level at which Strategy can activate its at-the-market (ATM) issuance program for the stock.
Tuesday’s purchase follows the estimated accumulation of around 763 BTC linked to STRC activity on Monday, bringing the two-day total to around 1,762 BTC.
The estimates are derived from a methodology that approximates bitcoin purchases to ATM sales. 40% of trading volume above the $100 threshold is assumed to represent ATM issuance, with a 2.5% broker fee deducted before calculating implied bitcoin purchases.
Strategy has described the STRC as something akin to a short-duration, high-yield savings instrument. The company recently raised STRC’s dividend rate to 11.5%, the seventh dividend increase since the product’s debut.
STRC pays monthly cash distributions. The dividend rate is adjusted each month to keep the stock trading close to its $100 face value while limiting price volatility.
Strategy’s common stock rose more than 7% in premarket trading, hitting about $142 per share, while bitcoin rose more than $71,000 for the first time in a month.
