Wu's Latest reports, according to Delphi Digital research, that Strategy converts fixed-income capital efficiently into spot BTC buying power through STRC floating-rate perpetual preferred shares (par value $100, current dividend yield 11.5%, raised for the 7th consecutive time in March). During the week of March 9–15, ATM issued and sold approximately 11.818 million shares, raising net capital of $1.1804 billion (comprising the majority of the total $1.5764 billion raised that week), purchased 22,337 BTC, setting the largest single-week purchase record for 2026. Since its launch in July 2025, STRC has become the core tool for BTC accumulation, with daily peak capacity to fund over 4,000 coins and weekly maximum driving 7,000+ coins into holdings, far exceeding daily new mining supply. However, annual dividend obligations have approached $1.05 billion, with preferred shares comprising too high a proportion, bringing significant dilution and cash flow pressure on common shareholders.