Overview
- - Strategy’s preferred stock STRC logged about $333 million in volume in one of its biggest sessions while holding near its $100 par, a setup designed to fund steady Bitcoin purchases through at-the-market sales.
- - The instrument has raised $5 billion in seven months, which CEO Phong Le called the company’s “iPhone moment,” reflecting rapid adoption of the 11.5% variable‑yield preferred that targets par pricing.
- - Recent disclosures show fresh accumulation, including a 4,871 BTC buy and a separate 936 BTC funded by a $64.3 million STRC sale, lifting holdings to roughly 767,000 BTC with STRC proceeds covering most of the latest tranche.
- - SEC filings show a $14.46 billion unrealized Q1 loss on digital assets and an average cost of $75,644 per coin, and the company says near‑term operating cash flow will not cover obligations without continued access to financing.
- - Strategy has filed for a large new ATM program reported at $42 billion split between STRC and common shares, and analysts’ models suggest a path to 1 million BTC if issuance stays open, as its buying now dominates public‑company accumulation while many peers cut back.