Strategy has successfully raised $2.5 billion through a preferred stock issuance, marking the largest US initial public offering of 2025 according to company data. The firm issued 28 million shares of its Variable Rate Series A Perpetual Preferred Stock (STRC) at $90 per share, dramatically exceeding its initial $500 million fundraising target.
Proceeds from the offering facilitated the acquisition of 21,021 Bitcoin at an average price of $117,256 per coin. This strategic purchase elevates Strategy’s total Bitcoin reserves to 628,791 BTC, solidifying its position as the largest corporate holder of the cryptocurrency among publicly traded entities.
The STRC shares are scheduled to debut on Nasdaq, representing the first US exchange-listed perpetual preferred security issued by a Bitcoin treasury company. The instrument will provide investors with monthly dividend distributions alongside crypto market exposure.
Market reaction saw Strategy’s common stock (MSTR) close down 2.26% in regular trading, though it recovered 0.52% in after-hours activity. Year-to-date performance remains positive with a 31.55% gain ahead of the company’s imminent second-quarter earnings report, which is expected to detail further Bitcoin strategy and treasury developments.