Bitcoin treasury giant Strategy Inc. announced today that it has completed a $2.52 billion Series A Perpetual Stretch Preferred Stock offering and deployed nearly $2.474 billion of the proceeds to purchase 21,021 BTC at an average price of $117,256 per coin. The move lifts Strategy’s total bitcoin holdings to 628,791 BTC, with an estimated market value nearing $80 billion.
The issuance comprised 28,011,111 shares priced at $90 each, making it one of the largest IPOs in the U.S. market in 2025 to date and one of the most significant fundraising initiatives in the history of the bitcoin capital markets.
Strategy emphasized that the financing did not dilute existing common shareholders and that the proceeds were almost entirely allocated to expanding its long-term bitcoin reserve strategy.
The newly issued STRC preferred shares are expected to begin trading this week on the Nasdaq Global Select Market, with a target face value of $100. The stock carries a 9% floating annual yield and offers monthly dividends. It represents the first perpetual preferred stock issued by a bitcoin treasury company in U.S. capital markets, combining fixed-income characteristics with flexible capital structure features, including redemption rights, cumulative dividends, and tax-efficient provisions—designed to attract institutional investors focused on yield and capital preservation.
According to the press release, the IPO was jointly led by Morgan Stanley, Barclays, Moelis & Company, and TD Securities, with support from Benchmark Company, Clear Street, AmeriVet Securities, Bancroft Capital, KBW, and Maxim Group LLC as co-managers.
This marks Strategy’s second large-scale bitcoin acquisition in just one week. Previously, the company acquired 6,220 BTC for approximately $740 million, pushing its total holdings above 600,000 BTC for the first time. According to analysis by TD Cowen, under the company’s ongoing “42/42 Plan”, Strategy may purchase at least 17,000 more BTC over the next decade. The initiative aims to raise up to $84 billion in dedicated funds by 2027 to support its long-term BTC allocation strategy.
Against a backdrop of continued global macroeconomic uncertainty and rising inflationary pressure, Strategy’s latest acquisition reaffirms its conviction in bitcoin as a long-term store of value—potentially signaling a further institutional shift toward digital assets.