Recently, STRC from 스트래티지 (@Strategy) has been frequently mentioned in the market. If the trading volume of STRC increases, will the amount of Bitcoin purchased by 스트래티지 also grow? Looking into the actual structure reveals an interesting mechanism. STRC is a preferred stock that offers an annual dividend of about 11% based on a par value of $100. In simple terms, it is one of the means by which 스트래티지 raises funds to buy Bitcoin, and this week alone, there has been a trading volume of approximately $816 million, indicating strong market demand. When STRC trading becomes active, 스트래티지 secures cash by selling about 40% of the trading volume in the market. However, it doesn't stop there. 스트래티지 aims to maintain a debt (including preferred stock) ratio of 20-30% relative to the total Bitcoin value. To keep this ratio, for every $1 raised through STRC, they need to sell about $3 worth of common stock (MSTR). This is known as the '1:3 rule.' Due to this structure, the common stock price has been showing weakness recently, as additional selling pressure continues. On the other hand, the cash available for 스트래티지 to buy Bitcoin is actually increasing, and the amount of Bitcoin held is steadily rising. Ultimately, the structure of increasing STRC demand → additional common stock sales → additional Bitcoin purchases is interlinked and functioning.