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Michael Saylor's Strategy Makes Massive $2.4B Bitcoin Purchase With Preferred Stock Sale Proceeds
The firm days ago sold nearly $2.5 billion of its new preferred series, dubbed STRC or "stretch," and quickly deployed the funds into BTC.
Updated Jul 30, 2025, 4:09 p.m. Published Jul 29, 2025, 8:53 p.m.
What to know:
- Strategy (MSTR) acquired 21,021 bitcoin after raising funds from its new preferred stock issuance.
- The company sold nearly $2.5 billion of STRC, significantly exceeding the initial $500 million target.
- Strategy's bitcoin holdings now total 628,791 BTC, valued at nearly $74 billion at current market prices.
Strategy (MSTR), the largest corporate owner of bitcoin , said on Tuesday it has acquired roughly $2.4 billion worth of BTC using the funds from its new preferred stock (STRC) issuance.
The firm sold nearly $2.5 billion worth of STRC, also dubbed "stretch," to investors, significantly more than the originally planned $500 million.
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STRC, which aims to deliver a regular dividend to investors initially set at a 9% rate, will start trading on Wednesday on Nasdaq.
With the proceeds, the company purchased 21,021 BTC at an average price of $117,256, according to a press release. That brings Strategy's bitcoin holdings to 628,791 BTC, worth nearly $74 billion at current prices.
Read more: Michael Saylor Is Bringing Bitcoin-Backed Money-Market-Style Vehicle to Wall Street: NYDIG
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