In a bold move that underscores its unwavering commitment to Bitcoin, Strategy has dramatically increased its stock offering from $250 million to $1 billion, as announced on June 6, 2025 . The company, led by Bitcoin advocate Michael Saylor, continues to cement its position as the world’s largest corporate holder of the cryptocurrency.
The Billion-Dollar Bitcoin Play
Strategy plans to issue 11,764,700 shares of its new 10.00% Series A Perpetual Stride Preferred Stock (STRD), priced at $85.00 per share . After accounting for underwriting discounts and commissions, the company expects to net approximately $979.7 million from this offering .
The settlement for this significant financial maneuver is scheduled for June 10, 2025, subject to standard closing conditions . This quadrupling of the initially announced $250 million offering represents a new financing approach for Strategy, which has historically relied on common stock and convertible debt to fund its Bitcoin acquisitions .
What makes this offering unique:
• The preferred stock will pay a 10.00% annual dividend if declared
• Payments will occur quarterly beginning September 30, 2025
• Dividends are non-cumulative, giving the board flexibility to withhold payments without future obligations
Building the Bitcoin Treasury
Strategy has made no secret of its intentions for the proceeds – the funds will primarily be used for “general corporate purposes, including the acquisition of Bitcoin and for working capital” . At Bitcoin’s current price of approximately $103,800, the $1 billion raised could potentially add over 9,600 BTC to Strategy’s already substantial holdings.
The company recently acquired 705 Bitcoin for $75.1 million, with an average purchase price of $106,495 per Bitcoin . This latest acquisition brings Strategy’s total Bitcoin portfolio to an impressive 580,955 BTC .
Saylor’s Unwavering Bitcoin Vision
Michael Saylor, Executive Chairman of Strategy, has consistently positioned Bitcoin as the core treasury asset for the company, stating that it creates long-term economic value . In his recent keynote at Bitcoin for Corporations 2025, Saylor made a compelling case for corporate Bitcoin adoption, arguing that it represents “the Apex capital strategy for companies seeking long-term growth, durability, and relevance in the AI age” .
Saylor’s Bitcoin strategy has generated significant returns for Strategy, reflecting the company’s strong belief in Bitcoin as digital capital . The firm currently holds approximately 577 BTC with an average cost basis of $70,023 .
The Premium Question
Strategy’s Bitcoin premium has become a topic of discussion among investors and analysts. According to recent research, the company’s shares trade at a premium of over 112% compared to the combined fair value of its Bitcoin holdings and core software business .
This premium is driven by several factors:
• Expectations of future Bitcoin accumulation
• Regulatory advantages
• Speculative positioning
However, some analysts caution that investors who don’t understand the importance of a firm’s net asset value (NAV) may be “dramatically overpaying for their Bitcoin exposure.”
Related Bitcoin Corporate Adoption News
The trend of corporate Bitcoin adoption continues to gain momentum beyond Strategy. Recently, a Swedish MP proposed a Bitcoin reserve to the finance minister, while the Blockchain Group added $68M in Bitcoin to its corporate treasury.