Start by removing the stems from the strawberries and washing them thoroughly. Place the strawberries into a food processor or high-powered blender and purée until smooth. Measure out and reserve 2 tablespoons of the purée for the glaze later. Transfer the remaining purée to a small saucepan over medium heat and cook for 15–20 minutes, stirring occasionally, until the purée has reduced to about ½ cup and has thickened. Set it aside to cool completely to room temperature.
Preheat your oven to 325°F (165°C). Prepare a 12-cup Bundt pan using your preferred nonstick method (butter and flour, baking spray, etc.).
In the bowl of a stand mixer fitted with a paddle attachment (or using a hand mixer), beat the room-temperature butter on high speed for 2 minutes until light and creamy. Gradually add the granulated sugar and continue beating on high for an additional 4 minutes, until the mixture becomes very pale, fluffy, and slightly crumbly.
Add the eggs one at a time, mixing well after each addition. Scrape down the sides of the bowl as needed to ensure everything is evenly incorporated.
Reduce the mixer speed to low. Gradually add the sifted flour in two additions, followed by the salt and baking soda. Mix until just combined—be careful not to overmix at this stage.
Finally, add the buttermilk, cooled strawberry reduction, vanilla extract, strawberry extract (if using), and red food coloring (if using). Mix on low speed until just combined, then stop mixing.
Pour the finished batter evenly into the prepared Bundt pan and smooth the top. Bake for 70–80 minutes, or until a toothpick inserted into the center comes out clean. Allow the cake to cool in the pan on a wire rack for 10 minutes, then carefully invert it onto a serving plate and let it cool completely before glazing.