Subscribe to Bankless or sign in
Strategy (formerly MicroStrategy) has expanded its latest $500M preferred stock raise to $2.52 billion, deploying capital into fresh 
Bitcoin purchases as part of its broader “21/21 Plan” to hold billions in BTC reserves.
What’s the Scoop?
- Massive Upsize: Strategy priced a Variable Rate Series A “Stretch” preferred stock offering at $90 per share, raising $2.52 billion—up from the initial $500M—to fund further Bitcoin accumulation.
- Bitcoin Acquisitions Continue: The firm disclosed acquiring 6,220 BTC (~$740 million)—bringing its total corporate holdings to 607,770 BTC, now worth over $72 billion.
- Convertible Debt Playbook: Strategy’s move mirrors prior $2B zero-coupon convertible note offerings—designed to replace debt with permanent capital and limit redemption risk.
- Treasury Leader Role: With both equity and debt layers allocated, Strategy remains the top public corporate Bitcoin treasury, holding roughly 2.3% of BTC supply and influencing market narratives.
