Strategy’s perpetual preferred security, STRC, recorded an unprecedented trading day on Monday, coinciding with the company’s significant bitcoin acquisition. The trading volume reached $1.16 billion, a stark increase from the 30-day average of $278 million, as the firm is estimated to have purchased approximately 7,800 BTC.
This surge in trading activity marks the largest single-day addition of bitcoin since the inception of the preferred stock. The recent purchase of $1 billion worth of bitcoin was fully financed through STRC, which offers an attractive 11.5% annual dividend, paid monthly in cash. Throughout the trading session, STRC maintained its par value of $100.
Historically, trading volumes tend to peak on the day before the ex-dividend date, which for STRC is Wednesday. This pattern suggests that trading on Tuesday could potentially surpass Monday’s record levels.
The market capitalization of STRC has now reached $6.4 billion, surpassing the combined market caps of Strategy’s other preferred securities, including STRD at $1.1 billion, STRK at $1 billion, and STRF at $1.2 billion, according to the MSTR dashboard.
In addition to STRC’s performance, Strategy’s common stock saw a rise of 2.9% on Monday, with a further increase of 3.7% in pre-market trading.
Bitcoin’s price has also been on an upward trajectory, recently hitting four-week highs above $74,000. Analysts are closely monitoring key price levels that could influence market volatility. Notably, at $75,000, market dealers are in a position of negative gamma, which could exacerbate price swings. Levels above $80,000 are also significant, as they may act as resistance points.
Strategy's STRC achieved record trading volume as the company acquired 7,800 BTC, marking a significant milestone. The stock's performance and bitcoin's rising price are drawing investor attention.