Apyx, a dividend-backed stablecoin protocol, has increased its holdings of Strategy's preferred stock instrument STRC to 288,888 shares, valued at approximately $29 million. This acquisition of an additional 33,888 shares is part of Apyx's strategy to become the largest STRC holder. The move follows a recent purchase of 200,000 shares, highlighting Apyx's aggressive accumulation strategy throughout March. Strategy, an enterprise software company turned Bitcoin treasury vehicle, issued STRC in July 2025 to fund Bitcoin acquisitions while offering an 11.5% annualized dividend. Apyx uses STRC holdings as collateral for its stablecoin apxUSD, which channels corporate dividends into on-chain yield opportunities. The protocol's recent partnership with BitGo enhances access to apxUSD through regulated infrastructure. STRC funding now accounts for 75% of Strategy's Bitcoin purchases, with trading activity in STRC reaching a record $409 million in daily volume on March 10. The yield-bearing stablecoin sector, including Apyx's offerings, has grown to a market value of $22.7 billion by March 2026, expanding significantly faster than traditional stablecoins. Apyx's recent funding round valued the protocol at $300 million, with its STRC-backed stablecoin circulation exceeding $50 million shortly after launch. However, risks remain due to STRC's leveraged Bitcoin exposure, which could pressure Strategy's finances if Bitcoin prices fall.