Strategy's Stretch Stock Hits New Record With $1.5B Trading Volume

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Strategy's perpetual preferred stock STRC posted an all-time daily trading volume of $1.5 billion on Thursday, the company's chairman confirmed.

STRC Volume Record

The Variable Rate Series A Perpetual Stretch Preferred Stock, known as Stretch, has become Strategy's main funding lane for Bitcoin(BTC) accumulation in 2026.

Chairman Michael Saylor flagged the milestone on X, writing that the session delivered "$1.53B of liquidity."

Stretch pays an 11.5% dividend and lets the company raise cash without diluting common shares.

The instrument has gained traction during the current bear market.

The STRC.live tracker estimates the firm could theoretically raise $735.4 million from Thursday's session. That sum would cover roughly 9,066 BTC at recent prices.

A Bitcoin purchase tied to those proceeds is not guaranteed.

Also Read:Clarity Act Clears Senate Banking Panel 15-9 In Crypto Industry Win

Treasury Funding Shift

Senior convertible notes and at-the-market equity offerings have tightened across the sector, pushing Bitcoin treasuries to lean on perpetual preferred stock. Strategy has used Stretch heavily over the past 12 months.

On the Q1 earnings call this month, Saylor said the company wants to build Stretch into "the biggest credit instrument in the world."

Rival treasury firm Strive has followed a similar playbook. The Nasdaq-listed company said Thursday its SATA preferred stock will begin paying cash dividends every business day from June 16, the first U.S.-listed security to do so. Strive's annual rate stays at 13%, with daily compounding lifting the effective yield near 13.88%.

Tokyo-based Metaplanet has also tapped perpetual preferred stocks, issuing MARS and MERCURY shares to fund Bitcoin buys.

Saylor's Buying Pace

Strategy remains the largest corporate Bitcoin holder by a wide margin. The firm reported total holdings of 818,869 BTC, valued near $66.5 billion at current market prices, with an average cost of $75,540 per coin.

Bitcoin's rally to roughly $81,000 has lifted the position into profit, with paper gains of about 7.2%.

The company has purchased 56,770 BTC since April and 101,147 BTC since March, an acceleration after a quieter February. Roughly 200 public companies still hold Bitcoin on their balance sheets.

Earlier this year, Strategy posted a $12.5 billion Q1 net loss tied to a $14.5 billion unrealized markdown on its Bitcoin stack. Executives at the time pointed to growing investor appetite for STRC as the key offset, foreshadowing the funding pattern now playing out.