Strategy's (formerly MicroStrategy) Series A Perpetual Stretch Preferred Stock, also known as Stretch (STRC), set a new record on Thursday with an All-Time-High volume of $1.53 billion.
Executive Chairman Michael Saylor highlighted this increase in liquidation in a post on X.
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MicroStrategy sets new daily volume record with STRC stock.
This figure surpassed STRC's previous daily trading record of $1.1 billion on April 13, 2024 , indicating increasing investment in this type of preferred stock.
STRC has become a central solution in the company's Capital strategy to purchase more Bitcoin (BTC). This preferred stock offers a dividend yield of 11.5%, unchanged since March 2024 .
Last month, BeInCrypto reported that Bitcoin purchases related to STRC had reached approximately 77,000 BTC by the end of April 2024, roughly 10 times the total net purchases of all US spot Bitcoin ETFs combined.
As demand from retail investors increased, Strategy also proposed adjusting its dividend payment method. The company recently proposed changing dividend payments for STRC shares from monthly to Chia into two installments per month .
Notably, Strive has also changed its counterparty's instrument. The Floating Rate Class A Preferred Stock (SATA) will switch to paying daily dividends starting June 16, 2024.
However, Strategy's Capital model remains controversial. Economist and Bitcoin critic Peter Schiff has criticized STRC, calling it a Ponzi scheme .
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