Strategy's STRC Stock Nears $100 Level Ahead of Potential Bitcoin Buying Spree

Strategy's high-profile preferred stock, STRC, is nearing a critical milestone that could unlock significant capital for further Bitcoin acquisitions. The stock, which has been trading below its $100 peg since May 2026, is now just 0.6% away from reclaiming this level. Historically, whenever STRC has traded at or above $100, Strategy has made substantial Bitcoin purchases, making this chart one of the most watched in the crypto space.

The $100 mark is significant because it would open up a new source of funding for Strategy without issuing additional common shares. STRC operates as a preferred stock with an annualized variable dividend of 12% at the $100 price level. Strategy has been conducting share buybacks while STRC has been below $100, but reaching this threshold could allow the company to resume selling STRC through its at-the-market program, which has approximately $17.5 billion of remaining capacity.

STRC experienced a remarkable turnaround after hitting an intraday low of $71.25 on June 26, 2026. Since then, the stock has bounced back, reaching a high of $99.56 on September 29 and trading at $99.41 as of October 2, 2026. This represents a 40% increase from its June low. While reaching $100 does not automatically trigger Bitcoin purchases, it makes STRC a more attractive source of capital for Strategy, based on its current policies.

For example, Strategy's original issuance of STRC in July 2025 raised around $2.47 billion in net proceeds, which was used to purchase 21,021 BTC for about $2.46 billion shortly afterward. As STRC approaches the $100 level again, market watchers are anticipating potential large-scale Bitcoin acquisitions by Strategy.