Key Takeaways
- Strategy has initiated an at-the-market (ATM) equity offering of up to $4.2 billion in perpetual stride preferred stock.
- The company plans to use proceeds for general corporate purposes, including Bitcoin acquisitions.
- After acquiring 41,407 BTC in the second quarter, Strategy has paused further Bitcoin buying.
Strategy is doubling down on its financial playbook with a fresh capital move to reinforce its position in digital assets.
As markets stabilize and investor appetite for yield grows, the company is tapping new funding channels to maintain flexibility while continuing to align its capital strategy with long-term Bitcoin exposure.
Strategy Launches $4.2 Billion ATM Offering
Strategy has launched an at-the-market (ATM) equity offering of up to $4.2 billion in 10.00% Series A Perpetual Stride Preferred Stock (STRD).
The offering enables the company to sell shares flexibly, market-based, over time, depending on market conditions.
Sales of the STRD stock will occur under the ATM program through methods including negotiated transactions, block trades, or other formats.
Strategy paused its Bitcoin acquisitions last week following an aggressive buying spree in the second quarter of 2025. During this period, it accumulated 41,407 BTC , including 4,980 BTC in the final week of June.
Strategy largely financed the purchases through common stock sales and supplemented the funding with proceeds from preferred equity.
Proceeds to Support Bitcoin Acquisitions and Corporate Growth
Michael Saylor’s company said it intends to use net proceeds from the offering for general corporate purposes, including acquiring Bitcoin, working capital, and dividend payments to holders of its Series A Perpetual Strife and Strike Preferred Stocks.
The company emphasized that sales under the ATM Program will be ” disciplined,” with careful attention to trading price and volume.
As of July 7, Strategy holds 597,325 BTC , and its common stock (MSTR) trades at $403. This reflects a 212% one-year return and a market cap of $113.2 billion.
With Bitcoin trading at $109,000, the company’s holdings have a value of approximately $65 billion, with over $22 billion in unrealized gains.
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