Strategy Buys 21,000 BTC After Largest Stock Offering
Michael Saylor and his company, Strategy, purchased 21,021 bitcoins for $2.5 billion following the largest initial public offering (IPO) in the U.S. in 2025. The average purchase price was $117,256 per coin.
The company, formerly known as MicroStrategy, raised $2.5 billion by issuing 28 million shares of Variable Rate Series A Perpetual Preferred Stock (STRC) at $90 each. Initially, it planned to raise just $500 million, but demand exceeded expectations fivefold.
Strategy recorded this offering as the largest IPO in the U.S. by gross proceeds in 2025. The deal was more than twice the size of the expected $1 billion IPO by stablecoin issuer Circle Internet Group, which took place in June.
After the purchase, Strategy’s bitcoin holdings totaled 628,791 BTC. This marks the company’s largest acquisition since March 31, according to BitcoinTreasuries.NET. Strategy remains the publicly traded company with the largest bitcoin reserves.
New Financial Instrument Launches on Nasdaq
STRC shares will begin trading on Nasdaq on Wednesday. Strategy presents them as the first U.S. exchange-traded perpetual preferred security issued by a bitcoin-holding company, designed to pay monthly dividends to income-focused investors.
STRC becomes the fourth instrument in Strategy’s series of perpetual preferred offerings used to finance bitcoin acquisitions:
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Strike (STRK) — convertible with a fixed 8% dividend
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Strife (STRF) — non-convertible with a cumulative 10% yield
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Stride (STRD) — non-cumulative 10% dividend
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STRC — variable rate with monthly payouts
Market Impact and Company Strategy
Strategy’s stock (MSTR) closed Tuesday down 2.26%, and remained nearly flat in after-hours trading following the bitcoin purchase announcement, rising 0.52% to $396.70, according to Google Finance.
Year-to-date, MSTR shares have gained 31.55% — modest compared to the 358.55% surge in 2024. The company's approach of using various financial instruments to acquire bitcoin has influenced at least 160 public companies to invest in the leading cryptocurrency.
Strategy’s latest purchase occurred just two days before its Q2 earnings report, which will show how capital raising and BTC acquisitions have affected the company’s revenues.
See also: "These Events Will Affect Bitcoin’s Price in August"
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