STRC Hits Record $1.53B Trading Volume, Says Michael Saylor

• Michael Saylor said STRC recorded an all-time high volume day with $1.53B in liquidity.
• Peter Schiff renewed criticism of STRC, calling the preferred shares a centralized Ponzi.
• Strategy’s BTC buys slowed to 535 BTC last week, but traders expect buys above 10K soon.

Michael Saylor highlighted STRC’s record trading activity after the preferred stock posted what he described as an “all-time high volume” day with $1.53 billion in liquidity and just “two cents of volatility.” Strategy CEO Phong Lee also referred to the session as a “record day” on X.

The surge in activity came as traders positioned around Strategy’s preferred shares ahead of the May 15 ex-dividend date. Trading volume in STRC has remained elevated for weeks as investors continue funding Strategy’s Bitcoin accumulation strategy through the yield-bearing instrument.

Bitcoin Funding Model Draws More Attention

The trading surge comes as Strategy faces growing debate over how it finances Bitcoin purchases.

The company currently holds 818,869 BTC and continues to raise capital through common stock sales and STRC issuance. Critics, led by veteran investor Peter Schiff, argue the structure depends too heavily on constant demand for new shares.

Schiff recently called STRC a “classic centralized Ponzi” and claimed investors are shifting money away from Bitcoin itself to chase STRC’s 11.5% annual yield.

His criticism intensified after Strategy’s latest Bitcoin purchase showed a slowdown. Between May 5 and May 11, the company bought just 535 BTC worth around $43 million at an average price of $80,340 per coin. This was the smallest weekly Bitcoin purchase of 2026.

Despite that slowdown, traders expect the pace to rise again. Strategy acquired 2,982 BTC on May 12 through STRC-related activity. If the pace continues, weekly purchases could move above 10,000 BTC again.

Saylor Defends STRC Structure

Michael Saylor pushed back against criticism during an interview at Consensus Miami. Saylor said selling Bitcoin to cover STRC dividend obligations would have almost no effect on the market because Strategy would still remain a net buyer.

According to Saylor, even if the company sold Bitcoin for dividends, it would still buy roughly 20 BTC for every one BTC sold. Saylor said STRC grew roughly 400% in a short period after Strategy sold $3.2 billion worth of the instrument within weeks.

Unlike convertible bonds, STRC carries no maturity date. The structure allows Strategy to raise long-term capital without facing forced redemption pressure during market stress.

Related: Saylor Opens Vote to Shift STRC Dividend Payments to Semi-Monthly