Apyx recently expanded its holdings of Strategy's preferred stock instrument, known as STRC, acquiring an additional 33,888 shares. This brings Apyx's total ownership to 288,888 shares, valued at around $29 million. This strategic move is part of Apyx's ambition to position itself as the largest holder of STRC, which is particularly notable given the accelerated pace of its share accumulation this March. Just a week ago, Apyx had already increased its holdings by 200,000 shares, highlighting its commitment to strengthening its investment.
Strategy, the company behind STRC, transformed itself into a Bitcoin treasury vehicle and holds a significant amount of Bitcoin—over 761,000 units. Introduced in July 2025, STRC acts as a preferred equity instrument aimed at financing ongoing Bitcoin purchases. Investors can expect an annualized dividend of 11.5% from this instrument, thus incentivizing capital inflows. Apyx's STRC holdings serve as collateral that supports its stablecoin, apxUSD, efficiently channeling traditional corporate dividend returns into on-chain yield opportunities.
Recently, Apyx has partnered with BitGo, a known digital asset custodian, facilitating significant access to apxUSD for larger investors through a regulated platform. The protocol boasts a robust overcollateralization rate of about 104%, reinforcing the security of its stablecoin offerings.
The timeline of Apyx’s latest share acquisitions coincides with an evolving financing strategy for Strategy's Bitcoin purchasing. STRC funding now represents a staggering 75% of Strategy's latest Bitcoin acquisitions, up notably from just 3% three weeks prior. In another substantial deployment, Strategy raised $1.18 billion through STRC sales to acquire Bitcoin, alongside $396 million from common stock offerings, marking its Bitcoin holdings at approximately 3.4% of Bitcoin's capped supply of 21 million.
Furthermore, the trading activity around STRC has witnessed a remarkable spike; it recorded its highest single-day volume of $409 million recently.
The yield-bearing stablecoin sector is rapidly evolving. As of March 2026, its market value has surged to $22.7 billion. JPMorgan’s research indicates this category is expanding significantly faster than traditional stablecoins such as Tether’s USDT or Circle’s USDC, which have grown at a proportionally slower rate. Analysts at JPMorgan predict that yield-bearing stablecoins could capture up to half of the entire stablecoin market, potentially exceeding a $150 billion valuation.
After successfully concluding a funding round that valued it at $300 million, Apyx has grown its STRC-backed stablecoin to over $50 million in circulation within just weeks of its launch.
Investors should be aware of the inherent risks associated with leveraged exposures in Bitcoin through instruments like STRC. If Bitcoin's market price were to decline significantly, Strategy may be compelled to raise dividend rates to sustain the attractiveness of STRC, which might put financial pressure on the company. There are also concerns regarding dilution risks, as the security is designed to finance continual asset acquisitions through ongoing issuance.