Strategy (formerly MicroStrategy) Raises $21B to Buy More Bitcoin

The world's largest public corporate Bitcoin holder, run by Michael Saylor, announced that it had entered into a recent sales agreement.

MicroStrategy, the world’s largest public corporate Bitcoin holder, has made plans to raise $21 billion in order to acquire more Bitcoin.

The firm, run by Michael Saylor, announced that it had entered into an agreement with Goldman Sachs to act as an at-the-market sales agent for the issuance and initial sale of up to 8% Series A perpetual preferred stock, STRK.

The sales will be made in various ways, including at-the-market sales, block trades, and negotiated transactions, as disclosed in a recent filing with the SEC.

The company intends to use the proceeds from this sale for general-purpose policies, including corporate needs and the acquisition of Bitcoin.

According to the filing, the agreement deal, dubbed the “ATM Program,” will be carried out in a disciplined manner over an extended period, taking into consideration the prices of the perpetual preferred stock at the time of sale.

“MicroStrategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of Bitcoin and for working capital,” the company said during the filing.

The preferred stock, liquid at a price of $100 per share, will accumulate dividends at a fixed rate of 8% per year.

Previously, the company announced plans to issue and sell shares of its class A stock to raise $21 billion in equity and $21 billion in fixed-income securities, alongside its initial perpetual share offerings to accumulate Bitcoin over the next three years.

Since the start of 2025, MicroStrategy has announced six Bitcoin acquisitions, buying a total of 52,696 BTC since Jan. 13.

This announcement follows a notable 12% drop in MicroStrategy’s value, sparking discussions around the MSTR token. Analysts have attributed most of this drop to its recent Bitcoin acquisition plan, while others have been less optimistic, attributing its recent loss to the general bearish market sentiment.

However, MicroStrategy boasts a magnificent Bitcoin portfolio, holding over 499,096 BTC ($41.2 billion), acquired for an aggregate amount of $33.1 billion at about $66,423 per BTC.

MicroStrategy has risen to become one of the most influential firms in the crypto industry since it announced its Bitcoin reserve and acquired its first BTC in August 2020.