MicroStrategy’s STRC Hits Record $1.53B Volume

MicroStrategy’s Series A Perpetual Stretch Preferred Stock (STRC) traded $1.53 billion in a single day on Thursday, the largest daily volume for the security to date. That figure surpassed STRC’s previous one-day record of $1.1 billion set on April 13.

Executive Chairman Michael Saylor wrote on X that liquidity around STRC has increased as trading activity in the preferred shares picked up. MicroStrategy has used STRC as a tool to raise capital for its Bitcoin purchases.

STRC pays an 11.5% dividend, a rate unchanged since March. A recent estimate attributed roughly 77,000 bitcoin acquisitions through late April to purchases linked to STRC, a total described as about ten times the net purchases by all U.S. spot bitcoin exchange-traded funds combined.

MicroStrategy has proposed changing STRC’s dividend schedule from monthly to semi-monthly. The company also plans to change its Variable Rate Series A Perpetual Preferred Stock (SATA) to daily dividend payments beginning June 16.

Economist Peter Schiff has publicly criticized STRC, calling the security a Ponzi scheme. Market participants and observers continue to monitor trading volumes, dividend schedule proposals and the company’s use of preferred stock to finance its crypto holdings.