Strategy’s (MSTR) perpetual preferred stock “Stretch” (STRC) traded in volume of approximately $333 million on Wednesday, marking its seventh highest daily volume since its July 2025 debut.
Despite the strong activity, STRC remained firmly anchored around its par value of $100 throughout the session. This stability prompted executive chairman Michael Saylor to remark: “a penny of volatility, $330 million of liquidity, closed at par.”
STRC is designed to operate as a short-term, high-yielding credit instrument, offering an annual dividend of 11.5% paid monthly. Its structure encourages near-par trading, allowing Strategy to effectively use its on-the-market (ATM) issuance program to raise capital for additional bitcoin purchases.
The company may have acquired more than 2,000 BTC on Wednesday via the STRC ATM, according to STRC.live estimates.
The broader objective of STRC is to generate double-digit returns with minimal price volatility, effectively combining income generation and capital stability.
In pre-market trading, Strategy shares were down slightly, at around $127, while STRC continued to trade at a par near $100.
