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Strategy has once again shown its commitment to Bitcoin after completing the largest initial public offering (IPO) in the US so far in 2025. The company raised $2.5 billion through a preferred stock sale and used the proceeds to buy over 21,000 Bitcoin, expanding its already massive holdings.
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The company, led by Michael Saylor and formerly known as MicroStrategy, confirmed it purchased 21,021 Bitcoin at an average price of $117,256 per coin. This marks its largest single Bitcoin purchase since March 31, according to BitcoinTreasuries.NET.
To fund the acquisition, Strategy sold 28 million shares of Variable Rate Series A Perpetual Preferred Stock (STRC) at $90 each. The sale eclipsed Circle Internet Group’s $1 billion IPO in June, cementing Strategy’s deal as the biggest public offering in the US this year by gross proceeds.
Strategy said STRC will begin trading on the Nasdaq on Wednesday. The security is the first perpetual preferred stock issued by a Bitcoin treasury company to list on a US exchange and pay monthly, board-adjusted dividends tailored for income-focused investors.
This latest issue follows a string of financial products that Strategy has launched to fuel its Bitcoin buying strategy. Other offerings include Strike (STRK), a convertible share paying an 8% fixed dividend, Strife (STRF) with a 10% cumulative yield, and Stride (STRD), which pays a 10% non-cumulative dividend.
Strategy’s approach of using equity and debt products to grow its Bitcoin holdings has influenced more than 160 publicly traded companies to add cryptocurrency to their balance sheets. Tuesday’s announcement also comes just days before the company is scheduled to release its second-quarter earnings report.
Shares in Strategy (MSTR) closed the day down 2.26% at $396.7 but edged up slightly in after-hours trading. The stock is still up 31.55% so far in 2025, although that’s a slower climb compared to the 358.55% surge seen in 2024.
Michael Saylor and his team have made it clear that they see Bitcoin as the cornerstone of their corporate strategy, and this record-breaking purchase signals that their conviction has not wavered.