Michael Saylor’s company, Strategy, has acquired 21,021 Bitcoin following a massive $2.5 billion initial public offering (IPO), the biggest in the U.S. this year.
This significant purchase came after Strategy raised capital by issuing its fourth preferred stock series, STRC, which helped the firm expand its Bitcoin holdings to a total of 628,791 BTC. The average price per Bitcoin in this transaction was $117,256, marking the company’s largest acquisition since March 31, as reported by BitcoinTreasuries.NET.
Formerly known as MicroStrategy, Strategy sold 28 million shares of its Variable Rate Series A Perpetual Preferred Stock at $90 each, a substantial increase from their original $500 million fundraising target.
This IPO stands out as the most sizeable public offering in the U.S. in 2025, surpassing the $1 billion debut of stablecoin issuer Circle Internet Group earlier this year.
Strategy’s approach involves utilizing various financial instruments—equity, debt, and convertible notes—to fund Bitcoin purchases. This strategy has inspired at least 160 publicly traded companies to add cryptocurrency assets to their balance sheets.
STRC Preferred Stock Sets Nasdaq Debut
The STRC preferred stock is scheduled to begin trading on the Nasdaq, marking it as the first perpetual preferred shares issued by a Bitcoin treasury company listed on a U.S. exchange. It will offer monthly, board-adjusted dividends tailored for investors seeking regular income.
This latest offering joins Strategy’s suite of financial instruments devoted to acquiring Bitcoin, including:
- Strike (STRK) – a convertible share with an 8% fixed dividend
- Strife (STRF) – a non-convertible preferred stock with a 10% cumulative yield
- Stride (STRD) – offers a 10% non-cumulative dividend
Market Reaction and Outlook
Shares of Strategy (MSTR) closed down 2.26% on the announcement day but experienced a slight after-hours gain of 0.52%, settling at $396.7 according to Google Finance.
So far in 2025, MSTR shares have gained roughly 31.55%, a tempered rise compared to a staggering 358.55% increase in 2024.
This Bitcoin purchase was made just days before Strategy’s second-quarter earnings report, which will provide insight into the company’s capital deployment and Bitcoin holdings as of June 30.
Strategy continues to influence the corporate adoption of Bitcoin, leveraging innovative financing to deepen its position in the cryptocurrency market.
