The Bitcoin (BTC) treasury firm Strategy says it’s ready to accumulate more of the crypto king after pricing a new preferred stock.
In a new thread on the social media platform X, Strategy founder and BTC maxi Michael Saylor announced the pricing of its Strife Perpetual Preferred Stock (STRF) offering, upscaling the deal from $500 million to $722.5 million.
The company says it plans on using the proceeds of the offering to purchase more of the top crypto asset by market cap, according to a recent press release.
“Strategy today announced the pricing of its offering on March 20, 2025 of 8,500,000 shares of 10.00% Series A Perpetual Strife Preferred Stock, at a public offering price of $85.00 per share…
The company intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital.”
The firm says the stock offering would “accumulate cumulative dividends at a fixed rate of 10.00% per annum on the stated amount of $100 per share.” Preferred stock offerings yield fixed dividends much like bonds but also represent ownership in a company.
Strategy – formerly known as MicroStrategy – currently holds 499,226 BTC worth about $41.9 billion, according to data from Bitcoin Treasuries.
In February, Strategy announced that it was raising $2 billion through a private offering of 0% convertible senior notes – or debt securities that can be converted into a predetermined amount of the issuer’s shares – to further its Bitcoin acquisition spree.
The flagship digital asset is trading for $83,947 at time of writing, a marginal increase during the last 24 hours.
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