Strategy Makes Boldest Bitcoin Bet Yet With $2.5B IPO-Fueled Purchase

Michael Saylor’s firm acquires 21,021 BTC after 2025’s biggest U.S. stock offering, pushing total holdings past 628,000

Strategy has executed its largest Bitcoin acquisition of the year, buying 21,021 BTC after raising $2.5 billion in a record-breaking preferred stock offering. The firm, led by Bitcoin advocate Michael Saylor, confirmed the purchase Tuesday, noting an average buy-in price of $117,256 per coin – boosting its total reserves to a staggering 628,791 BTC.

The capital raise came through the company’s fourth preferred stock issuance, STRC, which sold 28 million shares at $90 each. Initially targeted at $500 million, the offering was massively upsized, becoming the biggest IPO in the United States in 2025 so far – dwarfing Circle’s $1 billion debut earlier this year.

Strategy has acquired 21,021 BTC for ~$2.46 billion at ~$117,256 per bitcoin and has achieved BTC Yield of 25.0% YTD 2025. As of 7/29/2025, we hodl 628,791 $BTC acquired for ~$46.08 billion at ~$73,277 per bitcoin. $MSTR $STRK $STRF $STRD $STRC https://t.co/PEQQGfvkYe

— Michael Saylor (@saylor) July 29, 2025

Previously known as MicroStrategy, the firm has consistently leveraged equity and debt vehicles to accumulate Bitcoin. Its financial engineering playbook has influenced more than 160 public companies to begin holding crypto on their balance sheets.

STRC hits Nasdaq with monthly yield

STRC is set to debut on the Nasdaq this Wednesday, marking a historic first: a perpetual preferred stock from a Bitcoin treasury company that pays monthly, board-adjusted dividends. The offering is tailored to income-oriented investors and builds on Strategy’s ongoing model of structuring innovative financial products around Bitcoin accumulation.

The STRC joins other Bitcoin-backed instruments Strategy has rolled out, including:

STRK (Strike): a convertible preferred with an 8% fixed yield,
STRF (Strife): a 10% cumulative dividend product,
STRD (Stride): a 10% non-cumulative dividend variant.

Driving the digital transformation of IPOs with $BTC.$STRK $STRF $STRD $STRC pic.twitter.com/ydraj0QTKt

— Strategy (@Strategy) July 28, 2025

Strategy stock holds steady after the buy

Despite the announcement, Strategy shares (MSTR) closed Tuesday down 2.26%, inching up just 0.52% in after-hours trading to $396.7, per Google Finance. While year-to-date performance shows a 31.55% gain, it lags behind 2024’s explosive 358.55% surge.

The purchase arrives just ahead of the company’s Q2 earnings report, scheduled for Thursday. Investors are closely watching how Strategy’s aggressive capital raises and Bitcoin accumulation are reflected on its balance sheet.