Strategy, the largest publicly traded corporate holder of Bitcoin, has announced plans to raise up to $21 billion through a preferred stock sale to further expand its cryptocurrency holdings.
The company, formerly known as MicroStrategy, disclosed on Monday that it had entered into a sales agreement allowing it to issue and sell 8% Series A perpetual preferred stock.
The proceeds will be used for general corporate purposes, including additional Bitcoin purchases. The sales will be conducted through an “at the market” (ATM) offering.
This latest initiative reflects Chairman and co-founder Michael Saylor’s continued push to leverage capital markets for Bitcoin acquisitions. The firm has been aggressively accumulating Bitcoin since late 2020.
Leveraging Capital Markets for Cryptocurrency Growth
In January, Strategy completed a similar transaction, raising $563 million by selling preferred shares at $80 apiece, pricing them 20% below their marketed value while offering a substantial yield to attract investors.
Despite its strong commitment to Bitcoin, Strategy disclosed in a regulatory filing that it did not purchase any Bitcoin between March 3 and March 9. The firm currently holds approximately 499,096 BTC, making it the largest corporate Bitcoin holder.
The company’s aggressive Bitcoin strategy has influenced major traditional financial firms, including Tesla and Japanese firm Metaplanet, to adopt similar cryptocurrency investment approaches.
Meanwhile, the announcement coincides with a broader governmental shift toward digital assets. Last week, U.S. President Donald Trump signed an executive order establishing a strategic Bitcoin reserve. Saylor was among industry executives invited to a White House roundtable discussing the initiative.
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