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Strategy (formerly MicroStrategy), led by Michael Saylor, has signaled a possible new increase in its BTC reserves.
The hint appeared on March 15, when Saylor posted the signature SaylorTracker chart on X with the caption “Stretch the Orange Dots.”
Similar posts in the past have often preceded large BTC purchases by the company. Strategy is already the largest corporate holder of BTC in the world, so any new accumulation by the company typically draws significant market attention.
One of the key factors behind a potential BTC purchase is the STRC preferred stock that Strategy launched in 2025. This instrument quickly became the most liquid among preferred shares on the market. Its average daily trading volume is about $295.9 million.
According to Saylor, STRC’s liquidity already exceeds the combined volumes of its seven closest competitors. These include preferred shares from companies such as Boeing, KKR, and Four Corners Property Trust, whose trading volumes range from roughly $27.6 million to $35.8 million.
The popularity of STRC is also explained by its yield. The instrument offers a variable dividend yield of around 11.5%, making it attractive to institutional investors. Analysts note that STRC combines characteristics of a traditional debt instrument with exposure to the crypto market.
Among investors who have already shown interest in the product are companies such as Anchorage and the asset management firm Strive. BTC analyst Adam Livingston said the potential market for STRC could be significantly larger than that of the biggest crypto ETFs.
As of March 15, Strategy holds approximately 738,731 BTC, valued at roughly $53 billion. According to data from STRC.live, proceeds from the STRC program during the week before March 13 could have funded the purchase of about 11,042 BTC. In total, the instrument has already financed the acquisition of nearly 34,000 BTC.
If a new purchase occurs at current market prices, Strategy will further strengthen its position as the largest corporate holder of BTC. However, critics note that rising dividend obligations could increase the company’s financial risks if the market declines.
Recently we wrote that preferred shares of Strategy’s STRC have emerged as the most liquid among comparable securities. Interest in these shares has increased amid growing demand for Bitcoin-related assets and rising activity from institutional investors.