TLDR
- Strategy upsizes STRC IPO to $2B, quadrupling its original $500M target for Bitcoin purchases.
- The firm now holds 607,770 BTC after acquiring 6,220 Bitcoin worth $740M at $118,940 per coin.
- STRC preferred shares will rank above STRD, STRF, and STRK but below STRIFE in seniority.
- Strategy’s Bitcoin holdings are second only to BlackRock’s IBIT ETF in institutional ownership.
Michael Saylor’s firm, Strategy (formerly MicroStrategy), has increased its STRC IPO from $500 million to $2 billion. The company plans to use the funds to purchase more Bitcoin. This move adds to its growing crypto treasury, which now holds over 607,000 BTC. The funding comes through a new preferred share class, as part of its broader capital strategy to acquire Bitcoin for its reserves.
STRC Offering Raised to $2 Billion to Support Bitcoin Buying
Strategy has confirmed it will raise $2 billion through its STRC Series A Perpetual Stretch preferred stock offering. The decision follows an earlier plan to raise only $500 million. According to sources cited by Bloomberg, the company intends to price the shares at $100 each.
The STRC stock will take priority over other preferred shares like STRF, STRD, and STRK, though it will rank below the STRIFE class. This marks Strategy’s fourth preferred stock release. The company is actively offering new equity options to fund its expanding Bitcoin treasury.
BREAKING: MICHAEL SAYLOR'S STRATEGY JUST ANNOUNCED TO RAISE $2 BILLION TO BUY MORE #BITCOIN
THE GREATEST OF ALL TIME. LEGEND 🚀 pic.twitter.com/pAPw0Jc10r
— The Bitcoin Historian (@pete_rizzo_) July 24, 2025
Earlier this month, Strategy announced it had purchased 6,220 BTC worth nearly $740 million. The average price per coin was around $118,940. With this, the firm now holds 607,770 BTC in total. This places it behind only BlackRock’s IBIT ETF in institutional Bitcoin ownership.
Strategy Expands Treasury While MSTR Stock Remains Stable
Despite the news, MicroStrategy’s MSTR stock saw little movement. TradingView data shows the stock at $413, which is flat compared to earlier in the week. The stock had reached $445 over the past five days, but later dropped by 8%. Bitcoin’s recent price dip may have contributed to this.
Over the past month, MSTR stock has gained 10%, and it is up 37% since the start of the year. The company is expected to report its earnings on July 31. Analysts expect it to report an unrealized gain of $14 billion from its Bitcoin holdings.
Meanwhile, Strategy has not yet deployed the $4.2 billion it raised through its STRD stock for Bitcoin purchases. The recent acquisitions were funded through MSTR share sales. The STRC offering now adds another $2 billion to its capital base, giving it further flexibility.
Preferred Share Strategy Forms Backbone of Bitcoin Fundraising Model
Michael Saylor introduced the “Bitcoin Defense Department,” a framework for raising funds through preferred stock to buy Bitcoin. This model includes STRF, STRK, STRD, MSTR, and now STRC. Each stock class is structured to appeal to different types of investors.
Saylor explained the model using a pentagon, with each corner representing one share type. He says this model helps align shareholder interests with the company’s Bitcoin buying plan. The preferred stocks offer varying terms but are tied to the company’s crypto strategy.
The company has been using stock sales to maintain its buying cycle. As Bitcoin’s price increases, the equity value also rises, giving the firm more leverage to continue purchasing. However, this model depends on both investor demand and Bitcoin’s price staying strong over time.
While other companies like MARA Holdings are also raising capital for Bitcoin, Strategy remains far ahead in terms of total holdings. MARA currently holds around 50,000 BTC, compared to Strategy’s 607,770 BTC. Strategy’s actions continue to shape how public firms handle crypto in their treasuries.
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