Strategy's Path to 1 Million BTC Accelerated by STRC, BlackRock Overtake Likely
Growing appetite for STRC preferred stock issued by Strategy provides approximately 1,940 BTC worth of purchasing capacity each trading day based on current market conditions.
The company helmed by Michael Saylor, Strategy (MSTR), could achieve its goal of holding 1 million Bitcoin (BTC) sooner than many anticipate, with the possibility of surpassing BlackRock's total Bitcoin holdings in the process.
Key takeaways:
- Sales of STRC shares have produced sufficient capital for the acquisition of more than 3,500 BTC during the current week alone.
- The theoretical purchasing capacity of Strategy could escalate to approximately 5,700 BTC daily if Tuesday's record-breaking activity becomes the norm.
Increasing appetite for STRC suggests daily acquisition power of 1,940 BTC
As of now, Strategy's Bitcoin treasury stands at 738,731 BTC, a figure that incorporates the 17,994 BTC acquisition revealed on Monday. In comparison, the iShares Bitcoin Trust (IBIT) managed by BlackRock possesses 775,156 BTC, representing approximately 36,500 BTC more than Strategy's current position.
However, a relatively recent financial instrument, the STRC preferred stock offered by Strategy, is facilitating a more rapid closure of this difference.
The STRC instrument currently offers an annual dividend yield of 11.50%, with distributions made on a monthly basis in cash form.
The dividend percentage undergoes monthly adjustments designed to incentivize the stock to maintain trading levels close to its $100 par value, a mechanism that serves to reduce price volatility. The capital raised through these share sales is then deployed by Strategy to acquire additional Bitcoin.
During the present week alone, estimates indicate that Strategy has accumulated more than 3,500 BTC following the sale of approximately 6 million STRC shares via its at-the-market (ATM) offering program, according to information compiled by data resource STRC.LIVE.
One of the prominent institutional buyers of STRC shares is Strive, a Bitcoin-focused investment firm.
During a Wednesday announcement, Jeff Walton, who serves as chief risk officer, disclosed their acquisition of $50 million worth of STRC, highlighting that this investment position would yield approximately $5.75 million in annual income based on STRC's prevailing yield rate.
This income level exceeds the roughly $1.85 million that could be earned from 13-week Treasury bills, creating an annual differential of approximately $3.90 million.
During Tuesday's trading session, STRC achieved a record-setting daily volume of $409 million alongside a 30-day moving average of $138.5 million.
When applying the $138.5 million figure representing average daily trading volume alongside a Bitcoin market price hovering near $71,000, STRC's theoretical acquisition capacity would amount to approximately 1,940 BTC per standard trading day, exceeding Bitcoin's daily mined supply by a factor of more than four.
During trading sessions when STRC activity nears its record $409 million level, the theoretical purchasing capacity escalates to approximately 5,700 BTC, representing nearly 13 times the daily mining supply.
Should this acquisition pace continue, Strategy's Bitcoin treasury could eclipse the 1 million BTC milestone by August, with BlackRock's holdings also being left behind in the process.
Strategy could gain access to the $145.1 trillion fixed-income marketplace
The STRC instrument may be on the verge of entering into competition with conventional fixed-income investment products, in the view of analyst Adam Livingston.
The global fixed-income markets outstanding achieved a total of $145.1 trillion throughout 2024, while the United States fixed income outstanding measured $48.9 trillion as of the third quarter of 2025, Livingston noted in a post published Wednesday, further stating:
"If products like STRC eventually attract even 0.1% of global fixed income outstanding, that is $145.1 billion. At $71.2K per Bitcoin, that amount of capital would be enough to buy roughly 2.04 million BTC, purely as a scale illustration."
Investors should recognize STRC carries inherent risks
Within its official disclaimer documentation, Strategy issued a warning that STRC does not provide guaranteed returns, emphasizing that the instrument is "neither a bank deposit, nor FDIC insured, nor regulated in the same way."
The disclaimer further specifies:
"It does not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar instruments and as a result may not be a comparable investment."
ColinTalksCrypto, a Strategy analyst, also issued cautionary guidance regarding STRC, noting that the company possesses the ability to reduce the dividend payment, the share price has the potential to decline below its $100 par value, and Strategy maintains the option to issue additional shares that would dilute the ownership stakes of current holders.