Asset management company Strategy has significantly increased its Bitcoin reserves after deploying proceeds from a landmark public offering. The firm raised a net $2.47 billion through its Series A Preferred Stock (STRC) IPO, priced at $90 per share.
Utilizing the IPO capital, Strategy purchased 21,021 Bitcoins at an average price of $117,256 per coin. This strategic acquisition boosts the company’s total Bitcoin holdings to 628,791 BTC, valued at over $46.8 billion.
Strategy reported a 25.0% year-to-date return on its Bitcoin holdings. The STRC IPO marks the largest public offering in the U.S. for the year, with the preferred stock actively trading on the Nasdaq Global Select Market under the ticker symbol ‘STRC’.