Business intelligence firm Strategy (NASDAQ: STRK) unveiled plans to raise $2.1 billion through a preferred stock offering to expand its Bitcoin treasury reserves. The announcement comes hours after Bitcoin reached a new all-time high of $111,861, with the cryptocurrency currently trading at $110,859 according to market data.
The company will issue Series A Perpetual Strife Preferred Stock (STRF) through Barclays, TD Securities, and The Benchmark Company. This marks Strategy’s first equity-linked fundraising effort since rebranding from MicroStrategy in 2023, continuing its aggressive Bitcoin acquisition strategy that began in August 2020.
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The $2.1 Billion Preferred Stock Offering
Strategy’s 10% dividend-paying STRF shares will be sold through at-the-market offerings under SEC Rule 415(a)(4), allowing gradual sales during favorable market conditions. The structure prevents immediate dilution of common shares while providing liquidity for Bitcoin purchases.
Key details of the offering include:
- $100.65 per share initial pricing
- 2% commission for sales agents
- No fixed maturity date
- 10% annual dividend yield
Strategy’s Aggressive Bitcoin Accumulation
The company currently holds 576,230 BTC worth approximately $63.9 billion at current prices, representing 2.9% of Bitcoin’s circulating supply. Strategy’s treasury strategy has remained consistent despite reporting a $4.2 billion Q1 2025 loss under new accounting standards.
Recent Bitcoin purchases were funded through:
- Convertible note offerings
- Operating cash flows
- Stock-based compensation programs
Bitcoin Price Reaches New All-Time High
Bitcoin’s surge to $111,861 early Thursday represents a 22.72% monthly gain, with the cryptocurrency maintaining strong momentum despite typical market volatility. The rally coincides with increased institutional activity, as noted in recent market analysis from leading platforms.
Current Bitcoin metrics:
| Metric | Value |
|---|---|
| Market Cap | $2.2 trillion |
| 24H Volume | $48.7 billion |
| Circulating Supply | 19.86 million |
Market analysts suggest Strategy’s continued accumulation could create upward price pressure through reduced liquid supply. The company’s actions have been compared to a Bitcoin ETF proxy, offering traditional investors indirect exposure through equity markets.
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This fundraising move reinforces Strategy’s position as the largest corporate Bitcoin holder, potentially influencing broader institutional adoption. The preferred stock structure offers investors fixed-income-like exposure to Bitcoin’s growth while allowing Strategy to avoid debt obligations, creating a novel financial instrument bridging traditional and crypto markets.
