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Strategy Now Seeking $2.5B from "Stretch" Offering

Strategy continues to raise wild amounts of cash as it barrels forward in its BTC acquisition.
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Jul 25, 2025 • 1 min read

Strategy (formerly MicroStrategy) has expanded its latest $500M preferred stock raise to $2.52 billion, deploying capital into fresh Bitcoin purchases as part of its broader “21/21 Plan” to hold billions in BTC reserves.

What’s the Scoop?

  • Massive Upsize: Strategy priced a Variable Rate Series A “Stretch” preferred stock offering at $90 per share, raising $2.52 billion—up from the initial $500M—to fund further Bitcoin accumulation.
  • Bitcoin Acquisitions Continue: The firm disclosed acquiring 6,220 BTC (~$740 million)—bringing its total corporate holdings to 607,770 BTC, now worth over $72 billion.
  • Convertible Debt Playbook: Strategy’s move mirrors prior $2B zero-coupon convertible note offerings—designed to replace debt with permanent capital and limit redemption risk.
  • Treasury Leader Role: With both equity and debt layers allocated, Strategy remains the top public corporate Bitcoin treasury, holding roughly 2.3% of BTC supply and influencing market narratives.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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