Strategy (MSTR) stock surged 9% to above $180 per share on May 1 as Bitcoin recovered to $78,961, buoyed by Michael Saylor’s keynote at Bitcoin 2026 promoting STRC, the company’s Bitcoin-backed preferred stock product targeting the $300 trillion credit market. The rally marked a sharp reversal from earlier 2026 weakness, when Bitcoin had pulled back to the mid-$60,000s and MSTR had fallen 70% from its November 2024 all-time high of $457. Saylor’s presentation emphasized STRC’s viral adoption and positioned the product as a bridge between legacy finance and digital assets.

STRC Captures Wall Street Attention with $8.5B in Notional Value

Strategy launched STRC less than nine months ago as a preferred stock backed by Bitcoin, offering a 11.5% monthly variable dividend. The product has grown to $8.5 billion in notional value, with BlackRock’s iShares holding a $210 million position. Year-to-date 2026, STRC has financed approximately 77,000 BTC acquisitions, expanding Strategy’s total Bitcoin holdings to 818,334 coins—representing 3.9% of all Bitcoin in circulation. The average acquisition cost across the portfolio stands at $66,385 per coin. Saylor told conference attendees the product is “viral,” signaling momentum among institutional investors seeking Bitcoin exposure through familiar equity structures.

Bitcoin Recovery Fuels MSTR’s Leveraged Upside

MSTR functions as a leveraged proxy for Bitcoin price movements. Friday’s 9% gain occurred as Bitcoin climbed past $78,000 following short liquidations and reported U.S.-Iran diplomatic progress. Polymarket traders assigned 100% confidence that Bitcoin would finish May 1 within the $78,000–$80,000 range. MSTR’s prior close of $165 per share reflects the stock’s 61% discount from its November 2024 peak, leaving room for further upside if Bitcoin sustains above $75,000. The company’s treasury strategy—now augmented by STRC’s financing mechanism—positions it to accumulate additional BTC during volatility.

STRC Targets $300T Credit Market, Redefines Bitcoin’s Role

Saylor framed STRC as the first product to bridge Bitcoin and the global credit system. The world’s credit markets total approximately $300 trillion against Bitcoin’s $2 trillion market cap, creating a structural opportunity for tokenized digital assets. By offering a preferred stock wrapper with monthly dividends, STRC removes friction for institutional allocators constrained by traditional equity mandates. The product’s growth to $8.5 billion in under nine months suggests institutional appetite for Bitcoin exposure that doesn’t require direct custody or cryptocurrency infrastructure. This model could reshape how legacy finance accesses digital assets.

MSTR Faces Valuation Reset on Sustained BTC Strength

MSTR’s recovery depends on Bitcoin holding above $75,000 and continued institutional adoption of STRC. The stock trades at a significant discount to its intrinsic Bitcoin holdings, creating arbitrage risk if sentiment shifts. Strategy’s next catalyst is sustained demand for STRC’s monthly dividend structure and potential institutional fund flows into the product. Saylor’s keynote signaled confidence in the Bitcoin narrative, but execution risk remains around STRC’s scalability and regulatory clarity on preferred stock structures backed by cryptocurrency.