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The STRC ATM Tracker is a real-time dashboard that estimates how much Bitcoin Strategy Inc. (NASDAQ: MSTR) acquires through its $STRC preferred-stock ATM program. When STRC trades above its $100 par value, Strategy can issue new shares and use the net proceeds to buy Bitcoin — this tracker estimates that activity minute by minute, then confirms it against Strategy's official SEC 8-K filings.

How the STRC ATM Tracker Works

STRC is Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock. Each share has a $100 stated value. Strategy's at-the-market (ATM) program can only issue new STRC shares — and therefore can only raise cash to buy Bitcoin — when STRC trades above that $100 par value.

The tracker works in four steps:

  1. Measure volume above $100. Using real-time intraday market data, the tracker checks every minute of STRC trading against the $100 threshold to estimate what share of volume is ATM-eligible.
  2. Apply the capture rate. A capture rate — auto-calibrated from Strategy's most recent SEC 8-K filing — estimates how much of that above-threshold volume represents actual ATM share issuance.
  3. Convert to Bitcoin. Estimated net proceeds are divided by the live BTC price to produce an estimated Bitcoin figure.
  4. Confirm against filings. Every week, Strategy's SEC 8-K filing discloses the actual shares sold, net proceeds, and Bitcoin purchased. The tracker reconciles its estimates against those confirmed numbers.

What You Can Track

  • Estimated BTC acquired — live, intraday, via the $STRC ATM program
  • Estimated ATM proceeds — net cash raised above the $100 par threshold
  • % of STRC volume above $100 — how much trading is ATM-eligible right now
  • Daily supply ratio — estimated BTC acquired vs. the ~450 BTC mined globally per day
  • Confirmed 8-K data — official shares sold, proceeds, and BTC purchased from each SEC filing
  • STRC market data — live price, effective yield, and total trading volume

Frequently Asked Questions

What is STRC?

STRC is Strategy Inc's (NASDAQ: MSTR) Variable Rate Series A Perpetual Stretch Preferred Stock, trading on the Nasdaq Global Select Market. Each share has a $100 stated amount and pays a cumulative monthly cash dividend at a variable annual rate set by the board (currently 11.50% as of March 2026). The rate cannot be cut by more than 25 bps per month and can never fall below one-month SOFR. When STRC trades above its $100 par value, Strategy can issue new shares through an ATM program and use the net proceeds to acquire Bitcoin.

What is this tracker?

This is an independent, unofficial dashboard that estimates STRC ATM (At-The-Market) activity in real time. It tracks the volume of STRC shares traded above the $100 par value threshold — which is when the ATM program is eligible to issue new shares and use proceeds to purchase Bitcoin.

How are the BTC estimates calculated?

We use real-time intraday market data to estimate what percentage of STRC volume traded above the $100 par value. The "Capture Rate" (auto-calibrated from the latest SEC 8-K filing) determines what percentage of above-threshold volume represents ATM issuance. Estimated proceeds are divided by the current BTC price to derive an equivalent Bitcoin figure.

What is the Capture Rate?

The Capture Rate is an adjustable assumption for what percentage of STRC trading volume above $100 represents actual ATM share issuance. The default is auto-calibrated from the most recent SEC 8-K filing with confirmed ATM data and updates automatically when new filings are published. It directly affects all downstream estimates — proceeds, BTC acquired, and supply percentage.

How often is the data updated?

Market data refreshes approximately every 60 seconds during market hours. BTC price comes from CoinGecko. SEC filing data is based on confirmed 8-K filings and updates when new filings are published.

What does "% of BTC Daily Supply" mean?

After the April 2024 halving, approximately 450 BTC are mined per day globally. This metric shows how the estimated BTC acquired through STRC ATM activity compares to that daily mining output. A value of 300% means the estimated daily acquisition is 3x the amount of new Bitcoin mined that day.

What are extended hours?

The tracker shows pre-market (4:00 AM – 9:30 AM ET) and after-hours (4:00 PM – 8:00 PM ET) trading sessions. By default, extended hours are included in the estimates. You can exclude them and restrict the numbers to regular trading hours only (9:30 AM – 4:00 PM ET) via the toggle in the header.

Where does the confirmed BTC data come from?

Confirmed BTC figures are sourced directly from Strategy's SEC 8-K filings, which disclose actual shares sold, net proceeds, and Bitcoin purchased during each reporting period. These are not estimates — they are official, audited disclosures.

Can I sponsor the tracker or livestream?

Yes — the STRC ATM Tracker dashboard and its companion livestream are open to sponsorship, including title-sponsor placements. Opportunities include logo placement on the dashboard, on-screen branding on the livestream overlay, mentions in the weekly email newsletter, and custom integrations. Reach out to Bitcoin For Corporations for details.

Is this financial advice?

No. This dashboard is for informational and educational purposes only. Nothing on this page constitutes financial, investment, tax, or legal advice. All estimates are based on publicly available market data and adjustable assumptions. Always do your own research and consult a qualified financial advisor before making investment decisions.

STRC ATM Tracker Glossary

Key terms for understanding STRC, Strategy's ATM program, and how this tracker estimates Bitcoin accumulation.

STRC & Strategy

  • STRC — Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock, trading on the Nasdaq Global Select Market under the ticker STRC. Each share carries a $100 stated value.
  • Strategy Inc (MSTR) — the company formerly known as MicroStrategy, listed on Nasdaq under MSTR. Strategy holds Bitcoin as its primary treasury reserve asset and uses preferred-stock ATM programs to fund Bitcoin purchases.
  • Stretch Preferred Stock — the "Stretch" name for STRC, referring to its variable-rate, perpetual preferred structure designed to trade near its $100 par value.
  • Par value ($100) — the stated face value of each STRC share. It is the threshold that matters most for the ATM: issuing shares is only economical when STRC trades above $100.
  • Perpetual preferred stock — preferred stock with no maturity date. It pays dividends indefinitely and is never "repaid" like a bond.
  • Variable dividend rate — STRC's annual dividend rate is set monthly by Strategy's board (currently 11.50% as of March 2026). It cannot be cut by more than 25 basis points per month and can never fall below one-month SOFR.
  • SOFR — the Secured Overnight Financing Rate, a benchmark U.S. interest rate. One-month SOFR sets the floor under STRC's variable dividend rate.
  • Cumulative dividend — if Strategy ever skips a STRC dividend, the unpaid amount accrues and must be paid before any common-stock dividends.
  • Effective yield — STRC's annualized dividend expressed as a percentage of its current market price, shown live on the tracker.

ATM Mechanics

  • ATM program (At-the-market offering) — a mechanism that lets Strategy sell newly issued STRC shares directly into the open market at prevailing prices, rather than through a traditional underwritten offering.
  • ATM issuance — the act of creating and selling new STRC shares through the ATM program. The net proceeds are used to buy Bitcoin.
  • Net proceeds — the cash Strategy actually receives from ATM share sales after underwriting commissions (roughly 2%) are deducted.
  • Above par / below par — STRC trading above or below its $100 stated value. ATM issuance is only economically sensible when STRC trades above par.
  • Dilution — the increase in total STRC shares outstanding as new shares are issued through the ATM. Each new share carries its own dividend obligation.

Tracker Metrics

  • Capture rate — the estimated share of above-$100 STRC volume that represents real ATM issuance. It is auto-calibrated from Strategy's most recent SEC 8-K filing and drives every downstream estimate.
  • VWAP (volume-weighted average price) — the average trade price over a period, weighted by volume. The tracker checks VWAP against the $100 threshold to decide which volume is ATM-eligible.
  • % Volume above $100 — the share of STRC trading volume that occurred above the $100 par threshold. Only this portion can fund ATM issuance.
  • Estimated BTC acquired — the tracker's live, intraday estimate of how much Bitcoin Strategy has bought using STRC ATM proceeds.
  • Estimated ATM proceeds — the estimated net cash raised through above-par STRC issuance, before being converted to a Bitcoin figure.
  • Daily supply ratio — estimated BTC acquired through the STRC ATM compared to the ~450 BTC mined globally each day. A ratio of 3x means the estimated acquisition is three times the day's new mined supply.
  • Extended hours — pre-market (4:00 AM – 9:30 AM ET) and after-hours (4:00 PM – 8:00 PM ET) trading sessions. They are included in tracker estimates by default and can be toggled off.
  • Regular trading hours — the standard Nasdaq session, 9:30 AM – 4:00 PM ET.

Bitcoin

  • BTC spot price — the current live market price of one Bitcoin, used to convert estimated ATM proceeds into an estimated Bitcoin figure.
  • Daily mined supply — the roughly 450 BTC created globally each day following the April 2024 halving.
  • Halving — the roughly four-year event that cuts the Bitcoin mining reward in half. The April 2024 halving reduced daily issuance to about 450 BTC.
  • Bitcoin treasury — a corporate strategy of holding Bitcoin as a primary reserve asset. Strategy is the largest and best-known corporate Bitcoin treasury.

SEC Filings

  • 8-K filing — the SEC form used to disclose material corporate events. Strategy files weekly 8-Ks reporting actual STRC shares sold, net proceeds, and Bitcoin purchased.
  • Confirmed data — figures sourced directly from Strategy's SEC 8-K filings. Unlike the tracker's real-time estimates, confirmed data is official and audited.
  • Reporting period — the date range covered by a given 8-K filing, typically a one-week window.