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Strategy Launches $4.2 Billion STRD Offering After Pausing Weekly Bitcoin Buys

The preferred stock sale will fund further Bitcoin accumulation under a capital plan to raise $84 billion by 2027

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Overview

  • Strategy announced a $4.2 billion at-the-market program for its Series A Stride Preferred Stock on July 7 to boost its treasury funding
  • The offering follows the first one-week suspension of its weekly Bitcoin purchases since April 14
  • The firm holds about 597,325 BTC, valued at over $65 billion and representing roughly 2.8% of total Bitcoin supply
  • In Q2 Strategy added nearly $7 billion in Bitcoin and reported $14.05 billion in unrealized gains
  • The STRD stock, described by Michael Saylor as long-duration, high-yield and over-collateralized, will also support dividends on its STRK and STRF preferred shares