Strategy Inc. (NASDAQ:MSTR) jumped from 4,467 Bitcoin (CRYPTO: BTC) purchases in January to 46,872 BTC in April using STRC preferred stock, creating a mid-month buying pattern that K33 Research says fuels recurring Bitcoin rallies.
STRC Ex-Dividend Date Drives Mid-Month Rallies
Bitcoin posted strong returns during the middle week of March and April.
K33 Head of Research Vetle Lunde said the pattern could continue this week. STRC pays dividends on the last day of each month, while share ownership gets determined by the ex-dividend date on the 15th.
Strategy issues additional STRC shares via its at-the-market program whenever the stock trades at or above its $100 par value, using the proceeds to buy Bitcoin.
STRC typically trades near par ahead of the ex-dividend date as investors position for payouts, boosting volumes and allowing …