Michael Saylor’s company Strategy recorded the largest single day issuance of its perpetual preferred stock STRC after easing restrictions on its at-the-market share sales program. The move is estimated to have funded the purchase of around 1,420 Bitcoin in a single day, marking one of the company’s biggest daily acquisitions of the cryptocurrency.

Data from STRC.live suggests the company sold nearly 2.4 million STRC shares through its at-the-market program. This resulted in the largest estimated daily issuance of the stock and surpassed the previous record that funded a purchase of 1,069 Bitcoin.

The development highlights Strategy’s continued push to expand its Bitcoin holdings through multiple capital raising instruments.

Strategy Eases ATM Sales Restrictions

Earlier this week, Strategy updated the structure of its at-the-market sales program. The change allows a second sales agent to issue securities outside regular trading hours, including before the US market opens and after it closes.

Previously, the company was restricted to one sales agent per trading day. The modification is expected to improve the flexibility and speed with which the firm can sell shares.

Market observers believe the new structure could help Strategy raise funds more efficiently. With the ability to issue stock during extended trading hours, the company may accelerate its capital raising efforts tied to Bitcoin purchases.

Some analysts have suggested that the change could lead to larger and more frequent funding rounds in the future.

STRC Plays Key Role in Bitcoin Treasury Strategy

STRC is a variable rate perpetual preferred stock introduced by Strategy in July 2025. It is one of several financial instruments the company uses to fund its Bitcoin accumulation strategy.

The preferred stock offers investors monthly variable cash dividends. For March, the annualized dividend rate has been set at 11.5 percent.

STRC operates alongside other financing programs launched by the company, including Stride (STRD), Strife (STRF), Strike (STRK) and its common stock MSTR. These instruments allow Strategy to raise capital from different types of investors while maintaining its focus on expanding its Bitcoin treasury.

The company has positioned these offerings as long term tools to support its strategy of holding Bitcoin as a core corporate asset.

Investor Interest Continues to Grow

According to estimates from STRC.live, proceeds from STRC sales last week were expected to fund a weekly purchase of about 4,300 Bitcoin, worth roughly $303 million at the time.

However, Strategy’s latest filing with the US Securities and Exchange Commission revealed that the company raised around $378 million through STRC sales. The higher amount helped support a larger than expected Bitcoin acquisition.

Market commentators say the strong demand for the stock reflects growing investor interest in Strategy’s Bitcoin focused strategy. One market observer, Ragnar, noted that the revised sales structure could allow the company to raise significantly more capital in the future.

He suggested the change may lead to increased Bitcoin purchases as the company continues expanding its treasury.

$1.3 Billion Bitcoin Purchase

In its latest update, Strategy reported a Bitcoin purchase worth about $1.3 billion, one of the largest acquisitions the company has made so far.

Common stock MSTR generated the biggest share of the funding, contributing close to $900 million in proceeds. The rest came from preferred stock programs including STRC.

Despite the scale of the purchase, Bitcoin is currently trading below Strategy’s reported average cost basis of $75,862. At the time of the estimated transaction, Bitcoin was priced at around $70,040.

Even with the price difference, Strategy has continued to increase its Bitcoin holdings, reinforcing its position as the largest publicly traded corporate holder of the cryptocurrency.

The latest issuance and purchase signal that the company remains committed to expanding its Bitcoin treasury through aggressive capital raising strategies.