In a move marked as the most substantial initial public offering in the United States for 2025, Strategy took advantage of the hefty $2.5 billion it raised from its preferred stock offering to purchase over 21,000 Bitcoin. This latest acquisition positions Strategy, founded by Michael Saylor, as the public company with the most significant Bitcoin holdings.
The recent procurement saw Strategy buying 21,021 Bitcoin at an average cost of $117,256 for each coin, expanding its total Bitcoin reserves to 628,791 BTC. This acquisition is the most considerable one for the company since March 31, according to data from BitcoinTreasuries.NET.
Formerly known as MicroStrategy, Strategy managed to raise $2.5 billion through the sale of 28 million shares of its Variable Rate Series A Perpetual Preferred Stock (STRC), each valued at $90. This far exceeded the company’s initial target of $500 million.
Comparatively, Strategy’s IPO brought in twice as much as the highly anticipated $1 billion IPO from stablecoin issuer, Circle Internet Group. Riding on the wave of its successful IPO, Strategy continues to utilize various financial instruments including equity, debt, and convertible notes, to fuel the purchasing of Bitcoins. This innovative approach has indirectly prompted over 160 publicly traded firms to incorporate cryptocurrency into their balance sheets.
Set to list on Nasdaq, STRC is a monthly dividend-paying perpetual preferred security by a Bitcoin treasury company. This milestone makes it the first of its kind on the US exchange, catering mainly to income-centered investors. STRC forms part of the series by Strategy designed to fund Bitcoin acquisitions. The series also includes STRK, STRF, and STRD, each with distinct features and returns.
Despite the significant Bitcoin acquisition, Strategy’s shares saw minimal movement, trading down 2.26% on Tuesday. The after-hours trading saw a meager rise of 0.52% to $396.7. However, Strategy’s shares have seen a 31.55% increase in 2025, marking a moderate rise compared to a 358.55% surge in 2024. The company’s upcoming second-quarter earnings report scheduled for Thursday will be an important reveal on the impact of its Bitcoin purchases and capital raises on its balance sheets.