MicroStrategy, which now brands itself as Strategy, has priced an expanded offering of 28,011,111 shares of its Variable Rate Series A Perpetual “Stretch” Preferred Stock (ticker STRC) at $90 apiece. The deal, upsized several times in a week from an initial $500 million to $2.521 billion, is expected to generate roughly $2.474 billion in net proceeds when it settles on 29 July. The company said the cash will be used for general purposes, with a priority on purchasing additional Bitcoin. The latest raise reinforces MicroStrategy’s position as the largest corporate holder of the cryptocurrency, with a stash of about 607,000 BTC prior to the new financing. The preferred shares will pay an initial 9% variable dividend and may be redeemed by the company once they list on Nasdaq, subject to minimum-size conditions. Across the Atlantic, Paris-listed The Blockchain Group has also been tapping markets to swell its Bitcoin treasury. Since mid-June the firm has secured €9.7 million through an equity-and-bond placement, tapped an at-the-market programme with asset-manager TOBAM for a further €3 million, and announced on 15 July an additional €6 million capital increase. Over the same period it bought 358 BTC—including a 7 July purchase of 116 BTC for €10.7 million—bringing total holdings to about 1,904 BTC and projecting a potential rise to nearly 1,983 BTC once planned funding is deployed. The twin moves signal renewed investor appetite for bitcoin-linked securities as more publicly traded companies treat the token as a core treasury asset rather than a speculative sideline.
If you’re wondering about institutional appetite for $BTC exposure, look no further than @saylor and $STRC. Inside of a week the offering 5X’d from $500M to $2.5B. Buy. More. Bitcoin.
🚨🚨BREAKING: Strategy has priced its Stretch Perpetual Preferred Stock ($STRC) offering and cranked the deal size way up—from $500 million to a hefty $2.521 billion. More capital to purchase even more BTC. https://t.co/dbngzWbaDw
Due to massive demand, $STRC offering upsized by 5x 💥✅ 21,000 BTC buy incoming ✅ https://t.co/TCn7FdppFY