MSTR
The STRC puzzle
Michael Saylor has found another gear. Strategy’s STRC preferred stock helped the company jump from buying 4,467 Bitcoin in January to 46,872 BTC in April, according to K33 Research, and that flow has been feeding a recurring mid-month rally pattern.
Why the 15th matters
Here’s the quirky part: STRC pays dividends at month-end, but ownership gets locked in on the ex-dividend date around the 15th. That means investors pile in ahead of that cutoff, STRC tends to hover near its $100 par value, and Strategy can keep tapping its at-the-market program to raise cash and buy more Bitcoin.
Why investors should care
That loop matters because Strategy’s Bitcoin stack is now gigantic — 818,869 BTC worth about $65.7 billion after Monday’s latest acquisition disclosure. More buying can support BTC in the short term, and because MSTR still trades like a leveraged Bitcoin proxy, the stock tends to catch the same wind in its sails.
But there’s a catch
K33 also flagged a potential ceiling: this month, STRC has struggled to get back to par as quickly, and Strategy added just 1 BTC via the instrument in one stretch. Translation: the machine is still humming, but it may not be firing on every cylinder.
Big picture: when one preferred stock starts acting like a monthly Bitcoin catalyst, you know the setup has gone full Saylor.