Strategy is approaching the $28 billion issuance limit on its STRC preferred stock, yet the company continues to convert investor demand into spot bitcoin buys through a monthly funding cycle. Recent data shows purchases slowed after April's peak but remain active ahead of this week's ex-dividend deadline.
Strategy, formerly known as MicroStrategy, has used its STRC perpetual preferred stock to raise capital for bitcoin acquisitions. The instrument pays dividends at month end, prompting investors to buy shares by the 15th to qualify, which often lifts trading volume and allows new issuances near the $100 par value. Analysts at K33 linked this pattern to purchases of 4,467 bitcoin in January, 22,131 in March and 46,872 in April.
