Drain strawberries, reserving 1/2 cup juice. Chop the strawberries; set juice and berries aside.

In a large bowl, cream butter and sugar until light and fluffy. Add eggs, one at a time, beating well after each addition. Combine the dry ingredients; add to creamed mixture alternately with buttermilk and mix well. Stir in the pecans, chopped strawberries and extract.

Pour into a greased and floured 10-in. fluted tube pan. Bake at 325° for 1-1/4 hours or until a toothpick inserted near the center comes out clean. Cool for 10 minutes; remove from the pan to a wire rack.

In a small saucepan, combine the butter and reserved strawberry juice. Add the sliced strawberries. Bring to a boil; cook and stir for 1 minute. Remove from the heat; stir in extracts and confectioners sugar. Glaze warm cake garnish if desired