Strategy, recognized as the largest corporate treasury holder of Bitcoin, has announced the acquisition of 21,021 bitcoins using proceeds from its $2.52 billion initial public offering (IPO). The purchases were made at an average price of approximately $117,256 per bitcoin. Following this transaction, the company’s total bitcoin holdings have reached 628,791, valued at nearly $80 billion.
The IPO involved the issuance of 28,011,111 shares priced at $90 each, marking it as the largest U.S. IPO of 2025 and one of the most significant equity capital raises connected to Bitcoin. After deducting expenses, Strategy netted around $2.474 billion, nearly all of which was reinvested into additional bitcoin acquisitions. This approach underscores the company’s aggressive strategy to expand its bitcoin portfolio without diluting the ownership interests of its common shareholders.
Strategy’s stock is set to debut on the Nasdaq Global Select Market under the ticker symbol “STRC” around July 30. The offering includes a variable 9% annual dividend, paid monthly, and is structured to trade near a $100 par value. This represents the first U.S.-listed perpetual preferred security issued by a bitcoin treasury firm, featuring a monthly dividend rate.
The IPO ranks among the largest exchange-listed preferred stock offerings since 2009 and provides a short-term income-generating security tailored for yield-focused investors. Strategy retains redemption and repurchase rights, with mechanisms in place to protect investors through dividend accumulation and tax-related redemption options.
The underwriting syndicate was led by Morgan Stanley, Barclays, Moelis & Company, and TD Securities as joint bookrunning managers, with additional institutions acting as co-managers.
Notably, just a week prior, Strategy had announced a $740 million purchase of 6,220 bitcoins, pushing its total holdings beyond 600,000 bitcoins. Analysts at TD Cowen estimate that under its 42/42 program, the company could acquire an additional 17,000 bitcoins over the next decade, aiming to raise approximately $8.4 billion by 2027 to support its ongoing bitcoin purchases.
Source: bitcoinmagazine
