Adam Back: Treasury Buying Could Soon Hit 10x Daily Bitcoin Mined Supply

Stretch (STRC) could be just the beginning of a larger Bitcoin treasury company buying spree.

That's according to Adam Back, the CEO of Blockstream and Bitcoin Standard Treasury Company (BSTR), who shared his insights in exclusive comments to BitcoinTreasuries.net. There, Back highlighted how ongoing ramp-ups in recurring at-the-market (ATM) financing mechanisms on STRC and MSTR common shares position Strategy and other public markets companies with similar instruments and raising conditions to likely soon collectively absorb up to 10 times the daily mined Bitcoin supply, influencing market sentiment amid current conditions.

Back observed that in the context of Bitcoin's recent sideways movement, it has taken time for investors to gain confidence in buying STRC due to mainstream media fear and doubt regarding interest payment capabilities on new instruments – specifically preferred stocks such as STRC.

Last week, Strategy acquired approximately 3,600 BTC per trading day – around 8x the daily supply – primarily through at-the-market (ATM) offerings on common stock, with growing but under-distinguished contributions from STRC ATM activity.

STRC, the Variable Rate Series A Perpetual Stretch Preferred Stock, has become a key engine for accumulation.  In last week's purchase of 17,994 BTC, valued at $1.28 billion (average $70,946 per BTC), STRC proceeds funded roughly 30% of the haul. The sale of 3,776,205 STRC shares generated $377.1 million in net proceeds, directly enabling the acquisition of 5,313 BTC. This shift reduces reliance on common equity volatility, with record STRC trading volumes (3.7 million shares on March 10, 2026, reaching $409 million in dollar volume—the highest ever).

Expanded ATM liquidity and premium may enable significantly larger purchases in single sessions, with recent estimates showing up to ~2,038 BTC potentially funded in one day.

Back stressed the market implications: "So, I'd expect soon it will likely reached 10x daily mined supply collectively. This will have a bullish effect on BTC market as Strategy and others, are buying all day long, and even pre and after market ATM on STRC now," referring to Strategy's recent amendment to its Omnibus Sales Agreement that permits pre- and after-market sales of STRC shares.

In a prior BitcoinTreasuries.net article, we referred to Back’s comments on CNBC, where depending on price price, subject to redemptions and timing of regulator approval, BSTR maybe able acquire up to 21,000 BTC upon de-SPAC, potential reaching top-three global corporate Bitcoin holder ranking. Viewing the current dip as an attractive entry amid geopolitical factors, BSTR focuses on long-term holding.

As corporate treasuries intensify Bitcoin strategies, Back's observations highlight how innovative financing like STRC could accelerate dominance in daily supply capture, potentially fueling Bitcoin's next upward phase while decorrelating from transient noise.