STRC, the perpetual preferred stock issued by Strategy, is emerging as a significant factor in Bitcoin's mid-May rally, according to Vetle Lunde, Head of Research at K33. Lunde highlighted that STRC dividends, paid at the end of each month, and the ex-dividend date around the 15th, are pivotal in driving demand. As STRC trades above its $100 par value, Strategy issues additional shares and uses the proceeds to purchase Bitcoin, boosting BTC buying activity. Data indicates a substantial increase in Bitcoin acquisitions through STRC, with purchases rising from 4,467 BTC in January to approximately 46,872 BTC in April. Strategy's total Bitcoin holdings have reached 818,869 BTC, valued at about $65.7 billion. However, K33 noted a slowdown in STRC's return to its par price, with only one additional BTC acquired recently, suggesting a potential plateau in market demand.