- Strategy (MSTR) raised nearly $2.5B selling STRC preferred stock.
- Used the cash to buy 21,021 more BTC at $117K each.
- They now hold 628,791 BTC—worth about $74B.
Well, they’ve done it again. Strategy (yep, MSTR—the big Bitcoin whale of the corporate world) just scooped up another massive bag of BTC. This time? Around $2.4 billion worth, all funded by a new preferred stock issue they’re calling “STRC”… or just “stretch” if you’re into nicknames.
Originally, they planned to raise $500 million. Modest. Reasonable. But investor demand went wild, and they ended up pulling in almost five times that—nearly $2.5 billion. That’s not just oversubscribed, that’s basically a stampede.
“Stretch” Stock Debuts, Strategy Goes Shopping
The STRC shares are structured to give out a nice fat dividend, starting at 9%. Not bad if you’re into steady payouts while Bitcoin does its thing in the background. These new shares are set to begin trading Wednesday on the Nasdaq.
Anyway, back to the shopping spree—Strategy used the fresh capital to buy 21,021 BTC at an average price of $117,256 per coin. That’s not pocket change. The company now holds a staggering 628,791 BTC total. For reference, that’s over $74 billion worth of Bitcoin sitting in their digital vaults right now.
The Bitcoin King Just Doubled Down (Again)
It’s not even surprising anymore—these guys are playing a different game. Strategy already held the title of largest corporate Bitcoin holder, and with this latest move, they’ve widened the gap even more. They’re not just stacking sats—they’re basically building the Great Wall of Bitcoin, one preferred stock round at a time.
And now with “stretch” hitting Nasdaq, it’ll be interesting to see who else starts copying the playbook.
