K33: STRC under Strategy may be driving Bitcoin's mid-month rally

May 13th News, according to The Block, Vetle Lunde, Head of Research at K33, stated that Strategy's perpetual preferred stock STRC may be driving Bitcoin's mid-month phased rally. Data shows that Bitcoin has seen significant mid-month rallies in March and April 2026, while STRC's ex-dividend date is fixed on the 15th of each month, attracting a large number of investors to buy before the ex-dividend date. K33 points out that Strategy will continuously issue more STRC when its price is above the par value of $100 and will use the raised funds to purchase BTC. As STRC trading volume increases and its price approaches par value before the ex-dividend date, the company can raise more funds to increase its Bitcoin holdings, thus forming phased buying support. Data shows that the scale of BTC purchased by Strategy through STRC has increased from 4,467 coins in January to 46,872 coins in April. Currently, STRC has an annualized dividend yield of approximately 11.5%, continuously attracting income-seeking investors. However, K33 also warns that as STRC's dividend liabilities continue to accumulate, its long-term sustainability remains to be observed.