MicroStrategy's STRC preferred shares reported $1.1 billion in daily trading volume on Monday, marking a new high for the instrument.
The company confirmed this increase and noted that the volume rose by 46.5% compared to the previous record. The sudden surge drew significant attention in the crypto market, with traders trying to understand what this means for the Bitcoin price.
STRC volume increase fuels the Bitcoin accumulation narrative
According to Matthew Sigel, head of digital asset research at VanEck, the volume increase may be related to a large Bitcoin purchase.
MicroStrategy indeed reported on Monday its latest Bitcoin purchase, worth $1 billion in BTC, bringing the company's total Bitcoin reserve to 780,897 Bitcoin.
The timing of this move has led to speculation, as MicroStrategy traditionally expands its Bitcoin reserve during notable market movements.
Michael Saylor strengthened the narrative by emphasizing the scale and stability of this session.
"$1,156 billion in liquidity. One cent volatility. Closed at par. $STRC," he wrote.
The combination of high liquidity and low volatility indicates a controlled execution, often characteristic of institutional positions rather than retail-driven trading.
Analysts point to hundreds of millions in potential BTC purchases
According to market participants, there may have been between $600 million and $700 million in Bitcoin purchased through STRC-related flows.
"STRC bull case for BTC is becoming a reality. Estimated $600-700 million in purchases via STRC today. It could exceed a billion tomorrow," said Taiki Maeda.
Some analysts even believe that this amount could exceed $1 billion if the momentum continues during the next trading day.
As market sentiments improve, analysts suggest that the influx of capital is accelerating and sentiment is turning away from extreme bearishness.
Bitcoin recently tested lower levels, creating room for new accumulation.
At the same time, comparisons between STRC and the trading volume of MicroStrategy's common shares have raised eyebrows.
Analysts noted that the STRC volume constituted a large part of MicroStrategy's total trading volume that day, which is unusual for this instrument.
Additional predictions suggest that, if historical patterns hold, the STRC volume could increase further ahead of significant market events.
According to a follower, the number of shares could again exceed $1 billion, based on the trends of the previous month.
"Last month, T-2 was 4.6 million shares, T-1 was 7.5 million shares. About a 60% increase. If it continues like this tomorrow, we could see around 12.8 million shares (well above $1 BILLION)," they wrote.
The latest increase indicates that structured products linked to MicroStrategy may influence the demand for Bitcoin.
It is still unclear whether this activity indicates direct Bitcoin accumulation or broader market positioning. But the large trading volume shows that institutional players are once again determining the price of Bitcoin.