Overview

• Strategy raised $2.521 billion through its Series A Stretch Preferred Stock, netting about $2.474 billion for additional Bitcoin purchases.
• The firm paused Bitcoin acquisitions for a second consecutive week, keeping its holdings unchanged at 607,770 BTC.
• The preferred shares carry a 9% starting annual dividend, payable monthly in arrears, with adjustments tied to one-month SOFR and compounding of unpaid dividends.
• Investor demand drove the offering size up from $500 million, making it one of the largest crypto-sector preferred stock issuances of 2025.
• Analysts at Cantor Fitzgerald and TD Cowen have raised price targets for Strategy and estimate the proceeds could fund the purchase of over 20,000 BTC without diluting common shareholders.