30.07.2025 03:43
Michael Saylor's MicroStrategy has successfully concluded a record-breaking $2.5 billion equity offering, bolstering its already substantial Bitcoin holdings. This unprecedented capital raise, achieved through the issuance of STRC, a newly created class of perpetual preferred stock, significantly expands the company's Bitcoin treasury.
The funds generated from this offering were immediately deployed to acquire 21,021 Bitcoin at an average price of $117,256. This acquisition elevates MicroStrategy's total Bitcoin holdings to an impressive 628,791 BTC, currently valued at over $74 billion. The newly issued STRC stock, paying a floating monthly dividend starting at 9%, represents a novel financial instrument in the crypto space.
This marks MicroStrategy's largest-ever capital raise, surpassing even their $800 million convertible note offering from June 2022. The offering also follows the March launch of STRF, initially touted by Saylor as their flagship product, underwritten by a $2.1 billion at-the-market program. Unlike STRF, STRC is explicitly designed to attract retail investors seeking regular income streams, offering a monthly dividend without a maturity date.
Financial analysts have lauded this development, highlighting the increasing institutional demand for Bitcoin exposure within a traditional investment framework. Vincent Liu, chief investment officer at Kronos Research, noted that such yield products provide access to Bitcoin's potential without direct exposure to its volatile spot market price, illustrating a shift towards more structured capital flows that enhance Bitcoin liquidity without impacting order book dynamics. Similarly, Ryan Yoon, senior analyst at Tiger Research, emphasized the appeal of STRC for institutions seeking Bitcoin exposure packaged in a familiar, less volatile manner, mirroring traditional investment structures. The success of the STRC offering underscores the growing maturation of the Bitcoin market and the increasing sophistication of financial instruments designed to manage its inherent risks and volatility. Trading of STRC commences on the Nasdaq on Wednesday.
