Strategy Taps Market Again with $4.2 Billion Equity Plan to Fund Bitcoin buys

Strategy, the company formerly known as MicroStrategy, is expanding its capital raise with a fresh $4.2 billion at-the-market offering. The newly launched sale focuses on its 10.00% Series A Perpetual Stride Preferred Stock (STRD Stock), giving the firm more flexibility to pursue its goals—especially adding more bitcoin to its holdings.

Good to know

• Strategy may sell STRD Stock gradually, depending on market conditions.
• Proceeds could go toward bitcoin, working capital, or dividends.
• The company already raised nearly $6.8 billion from equity deals in Q2.

The announcement came on July 7, along with a prospectus supplement filing that makes the program official under an existing shelf registration. That setup allows Strategy to sell shares bit by bit when market timing is right—whether through standard trading, negotiated deals, or block trades.

According to Strategy, the main purpose of the offering is to fund general operations, including further bitcoin purchases. It may also use part of the proceeds to support dividend payments on other preferred shares.

This is not the first time Strategy has tapped equity markets. In Q2 2025 alone, the company raised almost $6.8 billion from equity programs. That includes a large underwritten STRD Stock deal worth $979.7 million completed in June, plus funds from its other ongoing stock offerings, STRK and STRF.

The company remains deeply committed to bitcoin. By the end of June, Strategy held 597,325 BTC bought at a combined cost of $42.4 billion. With bitcoin’s recent market performance, the fair value of those holdings jumped $14.05 billion in Q2, raising the total value to $64.36 billion.

Strategy highlighted the gain in a post on X, underscoring its position as one of the largest institutional holders of bitcoin.