Michael Saylor’s strategy may buy more Bitcoin (BTC) in the coming weeks due to the proceeds from the sale of STRC shares.
Basic considerations:
What are STRC shares?
Michael Saylor Strategy (MSTR) has nearly $50 billion in Bitcoin, the highest of any public company on record.
Stretch (STRC) is an income-oriented preferred stock strategy launched in July 2025 to raise capital for a Bitcoin accumulation strategy.
In its IPO, the company raised approximately $2.521 billion gross and $2.474 billion net. It then used this income to acquire 21,021 BTC at an average price of approximately $117,256.
The strategy later expanded this model by launching a $4.2 billion STRC on-the-market (ATM) program on July 31, 2025, which allowed it to sell preferred shares gradually rather than all at once to market demand.
How does STRC work?
The mechanism works best when STRC is trading near $100. To do this, the Strategy pays investors a variable income every month and adjusts it to keep the stock at its nominal value.
A higher yield can support the price when it is falling, while a lower yield can cool demand when it is too high. In March 2026, STRC’s annual rate is 11.50% or approximately $0.958 per share.
In short, STRC converts investor demand for yield into funding to buy more BTC.
For example, in January, Strategy sold about 1.19 million shares of STRC for $119.1 million in net proceeds, along with $1.12 billion from the sale of MSTR.
It used the crowdfunding to buy 13,627 BTC worth about $1.25 billion.
In February, STRC’s proceeds of $78.4 million were used to buy 2,486 net worth of BTC.
Saylor could have $302 million in STRC revenue
According to BitcoinQuant estimates, Strategy could soon raise more than $300 million by selling STRC preferred stock, which would likely give Michael Saylor enough power to buy about 4,300 bitcoins.
The forecast is based on STRC trading activity this week. The BitcoinQuant model shows a total of about $777 million, with about 97% or $755 million of the $100 par value of the shares sold.
Using a 40% capture rate, the model estimates about $302 million in net revenue, enough to buy about 4,334 BTC, based on an average Bitcoin price of $68,000 to $73,000 during market hours.
Friday alone saw a record $188 million in STRC trading volume, indicating potential revenue to finance the purchase of approximately 1,097 BTC based on the same model.
related to: Michael Saylor’s strategy buys $204 million worth of bitcoins on the 101st purchase
However, the numbers still remain estimates. The Strategy’s latest offering showed a total of $7.1 million in STRC sales, fueling a broader buying of 3,015 BTC.
Whether this week’s trading surge translates into larger Bitcoin purchases should become clearer in the company’s next SEC filing, which will be released on March 9.
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