Strategy expanded its Bitcoin-linked funding drive last week as STRC inflows crossed $2 billion within four trading days.
The preferred stock program gave the company capital that could support another major Bitcoin purchase. The activity also sharpened attention on dividend costs, debt management, and possible future Bitcoin sales.
STRC inflows surge as capital raise expands
Bitcoin Treasuries data showed demand for Strategy’s STRC preferred stock from May 11 to May 14. The company attracted the equivalent of 2,543 BTC on May 11, followed by 2,982 BTC on May 12 and 5,164 BTC on May 13.
The strongest session came on May 14, when STRC at-the-market inflows reached 14,439 BTC. That move generated about $1.17 billion in net proceeds and lifted trading volume above $1.54 billion.
Across four trading days, Strategy secured about $2.03 billion in fresh capital. Analysts said the proceeds could support purchases of more than 25,000 BTC if the company directs the money toward accumulation.
STRC’s market value climbed to about $8.5 billion. That figure placed it among the largest tradable preferred stocks and reflected demand for Strategy’s yield-focused Bitcoin financing model.
Bitcoin plan faces rising dividend burden
Executive Chairman Michael Saylor has described preferred shares as a digital credit instrument designed to attract yield investors. The structure helps Strategy raise capital while keeping Bitcoin at the center of its treasury plan.
STRC stayed close to its $100 target. It ended at $100 on May 11 and May 13, rose to about $100.01 on May 12, slipped to $99.99 on May 14, and fell to $99.24 on May 15.
The preferred stock carries an annual yield of 11.5%. Management has considered shifting dividend payments from monthly to semi-monthly, while the yearly dividend bill stands near $1.5 billion and continues to rise with each issuance.
Some analysts warn that higher dividend obligations could pressure the company if capital inflows slow. Strategy executives recently acknowledged that Bitcoin sales could happen if needed to support dividend payments, marking a change from its long-held never-sell message.
Debt repurchase adds another funding need
Strategy agreed to repurchase about $1.5 billion of its zero percent convertible senior notes due 2029. The company expects to spend $1.38 billion in cash, though the final amount may change based on MSTR’s trading performance during the measurement window.
The deal will retire the bought-back debt and reduce the related debt line by half. Strategy said it may use cash reserves, at-the-market proceeds, securities sales, or Bitcoin liquidation to fund the transaction. The repurchase is expected to close on May 19, with about $1.5 billion of the 2029 notes still outstanding.
