Preferred stocks are back at it again, aggressively buying Bitcoin after a few quiet weeks caused by Strategy’s STRC passing its dividend date. Just like clockwork, buying resumed right after the payday for STRC holders, and investors are once again piling into the preferred stocks to capture this month’s dividend. Many expect a similar buying pattern to unfold as we saw last month.
STRC purchased an estimated 2,724 Bitcoin yesterday — that’s 6 times the daily Bitcoin mining supply. With roughly 450 Bitcoin mined each day, STRC alone absorbed about 605% of yesterday’s new supply through its innovative digital credit structure.
Real-time tracking of these moves is available on our STRC Dashboard, offering investors clear insights into STRC Bitcoin Accumulation and the broader STRC Bitcoin Funding activity.
Adam Back weighed in on the situation, noting: “this will eventually exhaust sellers, and meanwhile the on-exchange supply is shrinking. Sellers can only sell once!”
Strive’s SATA also jumped into the action yesterday after hitting its $100 target. According to our dashboard estimates, SATA acquired 102 Bitcoin, bringing the combined total for the two vehicles to 2,826 Bitcoin in just one day.
Strive’s Risk Officer Jeff Walton highlighted the impressive momentum behind SATA. He explained that SATA, their variable rate cumulative preferred equity, is only five months old yet traded roughly $43 million in volume yesterday and has seen about $1.28 billion in total volume since launch across 104 trading days.
Walton added for context that this level of trading activity far exceeds many established preferred stocks. For example, JP Morgan’s JPM-PD traded just $5.9 million yesterday despite having $1.5 billion outstanding — about 3.5 times larger than SATA. Over the past 515 trading days, JPM-PD has only matched SATA’s lifetime volume.
These figures underscore the growing appeal of digital credit instruments as a flexible way for companies to raise capital while simultaneously building substantial Bitcoin positions. It remains to be seen whether SATA can raise capital as explosively as STRC has, but the early signs are encouraging. We’ll be watching this new funding method closely in the coming weeks.
With these innovative preferred-stock vehicles firing on all cylinders once more, corporate demand continues to absorb fresh Bitcoin supply at a remarkable pace through digital credit instruments. The market will be paying close attention to how this dynamic influences Bitcoin’s scarcity in the months ahead. As on-chain supply tightens and institutional interest keeps rising, vehicles like STRC and SATA could play an increasingly important role in shaping Bitcoin’s market structure.
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