Record trading volume and rising role in funding
Strategy’s STRC preferred stock recorded about $1.1 billion in trading volume on April 13, a 47% increase over its previous high, as it cements its role as a primary funding tool for the company’s expanding bitcoin acquisition program.
The perpetual preferred shares, issued through an at-the-market (ATM) offering, are now a central source of liquidity for the firm’s ongoing bitcoin purchases. According to Executive Chairman Michael Saylor, STRC liquidity reached $1.156 billion with pricing holding steady at par, underscoring strong and sustained demand for the instrument.
Bitcoin holdings surge past 780,000 BTC
Earlier in the week, Strategy bought 13,927 bitcoin for roughly $1 billion, bringing its total holdings to 780,897 BTC. The latest purchase was financed by the sale of more than 10 million STRC preferred shares.
With these additions, the company now controls more than 3.7% of bitcoin’s fixed 21 million coin supply, positioning its financing pace as a key factor in perceived scarcity and market sentiment around the asset.
STRC outpaces other funding lines under “42/42” plan
STRC operates alongside other preferred stock lines — STRK, STRF, and STRD — within a broader capital plan aimed at raising $84 billion for bitcoin accumulation by 2027. Internally, the initiative is known as the “42/42” program.
Trading data shows STRC now accounts for a larger share of the program’s total capital than all other preferred securities combined, signaling a shift toward using this single vehicle as the dominant funding channel.
Market data links share activity to potential bitcoin capacity
Data compiled by STRC.live estimates that around 10.6 million STRC shares trading above key price thresholds could equate to funding capacity for approximately 7,130 bitcoin. The exact figure varies with pricing and issuance timing.
The company stresses that trading volume in STRC does not automatically translate into immediate bitcoin purchases. Actual execution depends on internal capital deployment schedules and prevailing market conditions, meaning there can be a lag or mismatch between equity market activity and on-chain buying.
Shift in tone as spot bitcoin ETFs see net outflows
The surge in STRC activity comes as broader institutional products show signs of slowing demand. Data from Farside Investors indicates that spot bitcoin exchange-traded funds posted a combined net outflow of $55.1 million on April 13, 2026, ending a run of several days of net inflows.
This divergence highlights a contrast between one company’s aggressive, balance-sheet-driven accumulation strategy and a more cautious stance emerging in listed fund products.
STRC becomes a public barometer of buying power
By using an ATM structure tied directly to its bitcoin strategy, Strategy has effectively turned the STRC ticker into a live gauge of its near-term capital-raising ability — and, by extension, its potential to absorb bitcoin supply from the open market.
High volume and price stability in STRC now function as indicators of a single large buyer’s capacity to support or accelerate spot demand. For market participants, unusual activity in this security can act as a forward signal of possible large-scale bitcoin purchases.
Market implications and trading considerations
Because the company’s declared holdings represent a meaningful share of total bitcoin supply, shifts in its acquisition pace — driven by STRC and related stock offerings — can exert an outsized influence on perceptions of scarcity and on short- to medium-term price dynamics.
Traders active in bitcoin and related derivatives are increasingly treating STRC trading patterns as a leading indicator:
- sustained, high-volume issuance at or near par can suggest capacity for continued aggressive bitcoin buying;
- weakening demand or price pressure in STRC may signal a slowdown in the company’s ability to fund new purchases.
As a result, the capital-raising activity of a single corporate entity has become a primary variable in bitcoin market structure, linking a traditional equity instrument directly to anticipated moves in a digital asset’s price.
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