Strategy Offers $250M Stock to Fuel More Bitcoin Buys

Michael Saylor’s Bitcoin-focused firm, Strategy (formerly MicroStrategy), is offering $250 million in preferred stock to fund more Bitcoin purchases.

In a statement on June 2, Strategy announced the launch of its Series A Perpetual Stride Preferred Stock (STRD). The company plans to issue 2.5 million shares at $100 each, targeting institutional and selected non-institutional investors.

🟠 Bitcoin-Fueled Fundraising

Strategy will use the $250 million raised to buy more Bitcoin and support working capital. At current BTC prices (~$106,325), that would fund the purchase of roughly 2,351 additional Bitcoins.

“This offering marks a new way for us to accumulate more Bitcoin without diluting common shareholders,” the company noted.

Perpetual preferred stock like STRD offers fixed dividend payouts but has no maturity date. It takes payout priority over common stock, making it attractive to income-focused investors.

📊 The World’s Largest Corporate BTC Holder

Strategy is the largest corporate holder of Bitcoin, with 580,955 BTC valued at over $61.7 billion, according to its website. That’s more than double the combined holdings of the next 117 publicly listed Bitcoin-holding companies, based on BitcoinTreasuries.NET data.

The company has historically funded its Bitcoin accumulation through:

Common stock sales
Convertible note offerings
Now, preferred stock issuance

💰 STRD Dividend Terms

STRD comes with a 10% annual dividend, but payouts are not guaranteed. Dividends will be paid in cash only if declared by Strategy’s board or committee. Additionally, the dividends are non-cumulative, so missed payments don’t carry over.

If declared, the first dividends would be paid on September 30, 2025, and then quarterly thereafter.

Strategy also included redemption clauses:

It can redeem STRD shares for cash if less than 25% of the total remain.
STRD holders can force a buyback if a “fundamental change” occurs.

In either case, investors receive the $100 liquidation value plus any unpaid declared dividends.

🏦 Backed by Wall Street

The STRD offering is being managed by top-tier financial institutions:

Lead managers: Barclays, Morgan Stanley, Moelis & Co., and TD Securities
Supporting firms: The Benchmark Company, AmeriVet Securities, and others

The deal is being conducted under a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC), allowing Strategy to raise funds quickly.

🔮 Saylor’s Unshaken Bitcoin Vision

Michael Saylor, co-founder and executive chairman, remains committed to Bitcoin as a strategic treasury asset. With STRD, he adds a new financial tool to support his vision of a Bitcoin-based balance sheet.