Michael Saylor’s Strategy to Raise $250M via Preferred Stock Offering for More Bitcoin Purchases

Strategy Inc., formerly known as MicroStrategy, has announced plans to raise $250 million through a public offering of a new class of perpetual preferred stock—marking another bold move by Executive Chairman Michael Saylor to deepen the company’s Bitcoin holdings.

In a statement released on June 2, Strategy revealed it will issue 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock (ticker: STRD) at $100 per share. The offering is expected to raise a total of $250 million, with proceeds earmarked for acquiring more Bitcoin and providing working capital.

A New Fundraising Channel for Bitcoin Accumulation

The STRD issuance adds a new tool to Strategy’s arsenal for funding Bitcoin acquisitions. The company has previously relied heavily on issuing common stock and convertible notes to amass what is now the largest corporate Bitcoin treasury in the world.

As of June 2025, Strategy holds 580,955 BTC, valued at over $61.7 billion, according to its website. Data from BitcoinTreasuries.NET confirms that Strategy’s holdings are more than double those of the other 117 publicly traded Bitcoin-holding firms combined.

With Bitcoin currently trading at around $106,325, the $250 million offering could enable the purchase of approximately 2,351.8 additional BTC.

Preferred Stock Structure and Terms

Perpetual preferred stock, such as the STRD, typically offers fixed dividends indefinitely and ranks higher than common stock in the payout hierarchy. However, STRD dividends are not guaranteed. While holders are eligible to receive 10% annual dividends in cash, they are non-cumulative and only paid if declared by Strategy’s board or an authorized committee.

If declared, dividends will be distributed on the last day of each financial quarter, with the first payout expected on September 30, 2025.

Source: Strategy

The offering is targeted primarily at institutional investors, though select non-institutional investors may also participate.

Redemption and Repurchase Provisions

Strategy retains the right to redeem all outstanding STRD shares for cash if fewer than 25% of the original issue remain outstanding. In the event of a "fundamental change" in the company’s structure or strategy, STRD holders may require Strategy to repurchase their shares at par value ($100 per share) plus any declared but unpaid dividends.

Wall Street Backs the Offering

Several major financial institutions are managing the offering. Barclays, Morgan Stanley, Moelis & Company, and TD Securities are leading the underwriting, while The Benchmark Company, AmeriVet Securities, and other investment firms will provide additional support.

The STRD offering is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC).

Saylor’s Unwavering Bitcoin Vision

Michael Saylor, Strategy’s co-founder and executive chairman, remains the principal architect of the firm’s aggressive Bitcoin acquisition strategy. Under his leadership, the company has become the benchmark for institutional Bitcoin adoption, continually finding innovative ways to scale its digital asset exposure.

With this latest move, Strategy is signaling that its commitment to Bitcoin is far from over—and it's willing to use creative financial instruments to keep stacking sats.