STRC (Variable Rate Series A Perpetual Stretch Preferred Stock), the primary vehicle used by Strategy to fund its Bitcoin purchases, reached a record daily trading volume of $1.5 billion on Thursday. Company head Michael Saylor called this a historic milestone. This is reported by Cointelegraph.com reporting .
This financial instrument, known as Stretch, allows investors to earn an 11.5% dividend without diluting the company's common stock. According to the STRC.live tracking system, Thursday's activity theoretically allowed the company to raise $735.4 million and purchase 9,066 Bitcoin.
However, there is no guarantee that the raised funds will be directed specifically toward Bitcoin purchases. Since April, Strategy has accumulated a total of 56,770 Bitcoin, and 101,147 since March. The company aims to make its Stretch instrument the world's largest credit facility.
In current market conditions, perpetual preferred shares are becoming an effective tool for replenishing Bitcoin treasuries. A similar strategy is being employed by Strive, which plans to pay daily dividends on its SATA shares. Additionally, Tokyo-based Metaplanet is raising capital for Bitcoin purchases through instruments such as MARS and MERCURY.
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