Strategy’s Record STRC Issuance Funds 1,420 BTC Purchase
On March 10, 2026, Strategy, the world’s foremost public holder of Bitcoin, executed an unprecedented purchase of approximately 1,420 Bitcoin (BTC) in one day, fueled by a substantial sale of its perpetual preferred equity, Stretch (STRC). By amending its at-the-market (ATM) share sales program, Strategy managed to sell around 2.4 million STRC shares, according to data from STRC.live. This transaction set a new record for daily STRC issuance and Bitcoin acquisition, outpacing the previous high of 1,069 BTC.
Context
Strategy, formerly known as MicroStrategy, has been aggressively increasing its Bitcoin holdings through various financial instruments, particularly the issuance of preferred stock such as STRC. Launched in July 2025, STRC functions as a variable-rate perpetual preferred stock intended to support the company’s Bitcoin treasury strategy. The stock boasts monthly variable cash dividends, with the annualized rate for March established at 11.5%, as reported by Cointelegraph.
The recent changes to the ATM share sales program allow a secondary agent to handle the sale of securities before and after normal U.S. market hours. Previously, the program limited sales to one agent per trading day, creating friction in capital-raising efforts. This amended structure is anticipated to improve stock issuance efficiency during premarket and after-hours trading, thereby potentially accelerating future capital raises aligned with Bitcoin acquisitions.
Key Details
Strategy’s $1.3 billion Bitcoin acquisition stands as one of the most significant purchases in the company’s history. In its SEC filing dated March 10, 2026, Strategy disclosed selling approximately $378 million worth of STRC shares. The revenue generated from these sales primarily funded the Bitcoin acquisition, highlighting the firm’s ability to leverage its preferred stock for cryptocurrency investments.
Despite Bitcoin’s price hovering below Strategy’s reported average acquisition cost basis of $75,862, the company has maintained substantial investor interest and confidence in its Bitcoin accumulation strategy. The latest STRC issuance and the associated Bitcoin purchase reflect Strategy’s unwavering commitment to scaling its digital asset portfolio.
Implications
The adjustments made to Strategy’s ATM share sales program, coupled with the record-high issuance of STRC shares, indicate a deliberate strategy to enhance the company’s ability to raise capital efficiently. By permitting multiple agents to engage in stock sales during extended trading hours, Strategy seeks to broaden its investor reach and expedite its Bitcoin acquisition activities. This development could prompt other public companies in the cryptocurrency sector to reevaluate their own capital-raising methods and operational frameworks, potentially triggering broader changes within the industry.
Outlook
Looking forward, Strategy’s persistent emphasis on expanding its Bitcoin holdings through innovative financial instruments and strategic sales program amendments signifies a long-term dedication to its Bitcoin accumulation agenda. Market participants and analysts will closely monitor the company’s forthcoming capital raises and Bitcoin purchases. They aim to analyze the effectiveness of these approaches and their larger implications for the cryptocurrency market as a whole. As Strategy continues to shape its financial strategies around Bitcoin, it may set a new precedent for other entities in the sector to follow.