STRC price has climbed to $99.92 and is close to its $100 peg, raising hopes that it could allow Strategy to renew its Bitcoin [BTC] buys.
According to VanEck’s head of digital asset research, Matthew Sigel, a historical pattern suggests the world’s largest Bitcoin treasury firm could soon kick off BTC buys again.
STRC back to $99.9. Last time it regained par (Jan 6th), the ATM was restarted the next business day to buy Bitcoin. Given relatively low volumes, MSTR buyback (~$950M remaining) may be having an outsized impact at these levels.
STRC, one of Strategy’s preferred stocks, crashed to nearly $70 in June amid rising concerns that the firm could be forced to liquidate BTC to fund its active dividend obligations. Bitcoin also dropped below $60K at that time, further raising market fears.
It has since recovered to $99.9 in the past few months, amid a broader market rebound, STRC buybacks, and a standby cash reserve to cover dividend payouts during a market lull.
Will Strategy boost Bitcoin value?
STRC sales were instrumental in BTC buys in the first half of 2026. That changed in H2 2026, as shown by the chart. More of the MSTR ATM sales helped fund STRC buybacks (purple) and cash reserves.
The firm has now bought back $2.05B of STRC. It bought back another $200 million in STRC and zero BTC last week. Now that its daily dividends for STRC and other preferred stocks have been officially adopted, it’s unclear how much demand they will attract.
While STRC is the most liquid US preferred stock, VanEck’s Sigel flagged it as overvalued, but added,
I’m very underweight DATs: you overpay management for unpredictable leverage. But if this reaches par, it’s probably a positive for BTC and MSTR, on the margin.
That said, Strategy currently holds 848.5K BTC and has acquired over 216K BTC since last August. In fact, it was responsible for 71% of Bitcoin treasuries’ demand over the same period, buying over 216K BTC.
But as mentioned earlier, the bulk of the purchases happened in late 2025 and H1 2026. As Strategy BTC bids cooled in 2026, other treasury firms offloaded their holdings. Since mid-October, BTC’s overall demand turned negative, and ETFs became net sellers.
With no Strategy bids to absorb the pressure, Coinbase analysts warned that the low demand could drag BTC below $80K if the trend persists later in the year.
Final Summary
- VanEck projected that Strategy could renew its BTC buys as STRC inches closer to $100.
- Strategy drove 71% of treasury demand for BTC since late 2025, but the bids cooled in H2 2026.
