Strategy’s STRC Draws $2 Billion In Capital To Buy More Bitcoin
Highlights
- The net ATM proceeds generated by Strategy's STRC program were approximately $2 billion raised in four trading days.
- Between May 11 and May 14, estimated Bitcoin that was acquired through STRC was more than 25,000 BTC.
- A STRC shareholders' proposal to pay out dividends on a semi-monthly schedule is still pending.
In its Bitcoin buying spree, Strategy continues to attract new funds via its STRC preferred stock program. The company has raked in more than $2 billion in proceeds during the last week.
Strategy’s STRC Raises More Capital
Bitcoin Treasuries recorded notable inflows to STRC from May 11 to May 14. The data indicates that the STRC stock received strong inflows in the period May 11 to May 14.
Further, the tracker estimated that Strategy attracted inflows enough to buy 2,543 BTC on May 11. In addition, the figure climbed to 2,982 BTC on May 12 and 5,164 BTC on May 13.
Moreover, the largest increase was on May 14. The total amount of Bitcoin that was estimated to be collected using the STRC ATM program also jumped to 14,439 BTC in a single day. Net ATM proceeds totaled $1.17 billion and trading volume was over $1.54 billion per day.
For context, Strategy raised almost $2.03 billion in net proceeds from the four trading days on the STRC ATM. The total estimated number of Bitcoin that could be bought this week reached over 25,000 BTC.
The STRC Stock Performance Update
STRC is Strategy’s Variable Rate Series A Perpetual, Stretch Preferred Stock. It aims to raise funds from investors and facilitate the company’s plans to continue acquiring Bitcoin. The preferred shares have a floating dividend and are approaching a $100 price.
Strategy’s STRC was trading close to that level the entire week on the tracker. The stock closed at $100 on May 11 and May 13. It traded at $100.01 on May 12 before slipping slightly to $99.99 on May 14.
Also, the average Bitcoin price was not exactly stable during the week. The tracker showed that the price of the BTC has been trading in the range of $79,448 and $81,470 per BTC.
Activity was on the decline on May 15 with markets closing with STRC failing below ATM at $99.24. The tracker estimated no Bitcoin were purchased the day.
Meanwhile, the Strategy shareholders are voting to consider a proposal that is linked to the payment of dividends to STRC shareholders every 15 days. The offer is currently pending review, following the company’s ongoing efforts to diversify its capital deployment into Bitcoin.
Recently, Strategy bought $43 million worth of Bitcoin on May 11.
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