Strategy Drives 94% of Bitcoin Buying as STRC Absorbs 4.8x Mined Supply
Anastasia
Michael Saylor’s Strategy Inc. is accelerating bitcoin accumulation at a pace never seen before. On March 31, 2026, the company is estimated to have purchased more than 2,174 BTC in a single day via STRC, equivalent to roughly 4.8 times the daily mined supply of Bitcoin.
That level of demand is not isolated. In March, public bitcoin treasuries accumulated over 47,000 BTC, and Strategy accounted for 44,377 BTC of that total, or 94% of all net buying across the sector. While Strategy was aggressively accumulating, other firms were net sellers, with multiple companies reducing holdings and limiting overall market absorption.
Adam Back highlighted the structural impact of this trend, stating on X: “this will eventually exhaust sellers, and meanwhile the on-exchange supply is shrinking. sellers can only sell once!”
His point reflects a growing dynamic in bitcoin markets where sustained institutional demand is beginning to outpace new supply.
At the center of this strategy is STRC, Strategy’s perpetual preferred stock offering. The instrument allows the company to raise capital from investors seeking yield, while deploying that capital directly into bitcoin purchases. This creates a continuous demand engine, converting traditional financial capital into long-term bitcoin accumulation without forced selling pressure.
The pace is accelerating. Strategy purchased 88,000 BTC in the past 90 days and is currently operating at an estimated 350,000 BTC annual acquisition pace. The company has also authorized up to $42 billion in capital for future bitcoin purchases, expanding its ability to continue acquiring supply through equity and preferred issuance.
Meanwhile, Strive Asset Management is gaining traction with its SATA preferred structure. While Strategy holds over 762,000 BTC compared to Strive’s roughly 13,600 BTC, trading activity suggests increasing relative demand for newer issuance. STRC recorded approximately $260 million in daily volume, compared to $34 million for SATA, a much narrower gap when adjusted for underlying bitcoin holdings.
The emergence of competing capital vehicles signals that bitcoin accumulation is becoming a primary objective of financial product design.
This trend is transforming how investors interact with bitcoin exposure. Platforms like Roxom now allow users to trade STRC and SATA directly and receive distributions settled in BTC. With STRC offering monthly payouts and SATA structured for bi-monthly distributions, investors can generate recurring bitcoin income without selling their holdings.
As institutional demand scales through these structures, the key dynamic becomes clear: Bitcoin’s fixed supply is increasingly being absorbed by long-duration capital. The result is a market where supply tightens structurally, and access to bitcoin becomes increasingly competitive.