Strategy To Sell As Much As $2.1 Billion In Preferred Stock To Accelerate Its Bitcoin Buying Binge
Michael Saylor’s Strategy, formerly known as Strategy, is stepping up plans to tap the capital markets to continue stacking Bitcoin as part of its corporate strategy. The Bitcoin development company will issue up to $2.1 billion of preferred stock and use the proceeds to buy more of the flagship crypto.
Strategy’s $2.1B Stock Raise To Buy Bitcoin
Strategy, one of the world’s largest publicly listed corporate Bitcoin holders, has announced the pricing of its latest round of Preferred Strife Perpetual stock, which the firm does before announcing more Bitcoin buys.
The company has entered into a sales agreement to issue and sell up to $2.1 billion worth of shares of STRF via an at-the-market (ATM) program. Each share has a liquidation preference of $100 and has the same terms as the 8.5 million already outstanding.
STRF, which offers a 10% annual cash dividend, is only available to institutional investors. The STRF shares will be sold gradually and strategically over a period of time through a sales agreement with TD Securities, Barclays Capital, and The Benchmark Company, which will act as sales agents.
Of course, the Tysons Corner, Virginia-based firm said it plans to use the proceeds for “general corporate purposes,” including purchasing more Bitcoin — padding its stash of 576,230 BTC currently valued at over $63 billion. For context, the Saylor-founded company now owns more than 2.7% of Bitcoin’s total 21 million supply.
The timing of the latest offering coincides with a fresh all-time high price for Bitcoin. Earlier today, the price briefly touched $111,544 before settling near $111,100 as of publication time, according to CoinGecko data. Strategy is now sitting on over $23.8 billion in paper profits thanks to the ongoing Bitcoin rally.
Interestingly, Bitcoin set a new record just ahead of Bitcoin Pizza Day. On May 22, 2010, Florida programmer Laszlo Hanyecz bought two large Papa John’s pizzas with 10,000 BTC — the first real-world purchase with Bitcoin.
That sum would be worth over $1 billion today.
Filed under: Bitcoin - @ May 22, 2025 5:15 pm