Viewpoint: Strategy's STRC may be driving the mid-month rise in Bitcoin

According to The Block, K33 research director Vetle Lunde stated that Strategy's perpetual preferred stock STRC may be becoming an important factor driving the mid-month rise in Bitcoin. Lunde pointed out that STRC dividends are paid on the last day of each month, while the ex-dividend date is set around the 15th of each month.

Since Strategy will issue additional shares through the ATM mechanism when the STRC price exceeds the $100 par value and use the raised funds to purchase BTC, the market demand for STRC tends to increase before the ex-dividend date, often leading to more BTC buying.

Data shows that the scale of BTC purchased by Strategy through STRC has grown from 4,467 coins in January this year to about 46,872 coins in April. Currently, Strategy's total Bitcoin holdings have reached 818,869 BTC, valued at approximately $6.57 billion.

However, K33 also noted that the speed at which STRC returned to par value this month has slowed compared to before, with only 1 BTC added through this tool recently, indicating that market demand may be approaching a phase of plateau.