Michael Saylor's Strategy Makes Massive $2.4B Bitcoin Purchase With Preferred Stock Sale Proceeds
1The firm days ago sold nearly $2.5 billion of its new preferred series, dubbed STRC or "stretch," and quickly deployed the funds into BTC.
Strategy (MSTR), the largest corporate owner of bitcoin BTC$113,646.96, 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.
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
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
https://www.coindesk.com/business/2025/07/29/strategy-makes-massive-usd2-4b-bitcoin-purchase-with-preferred-stock-sale
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