Strategy, the company formerly known as MicroStrategy, has announced a new preferred stock offering that could raise up to $500 million. The funds will be used to expand its already vast Bitcoin treasury and support general corporate purposes. The offering, under the ticker symbol STRC, consists of 5 million variable-rate preferred shares priced at $100 each. This new issuance reflects Strategy’s ongoing commitment to Bitcoin as a core treasury reserve asset.

The STRC shares will offer investors a 9% annual dividend paid monthly, indexed to the Secured Overnight Financing Rate (SOFR). This variable-rate structure aligns with current market trends and adds an element of flexibility for yield-seeking investors. Additionally, Strategy retains the right to redeem the shares at $101 per share plus any accrued dividends, providing optionality in capital management.

Strategy Builds BTC War Chest

This latest stock offering comes on the heels of Strategy’s aggressive Bitcoin accumulation. Earlier in July, the company purchased 6,220 BTC at an average price of approximately $118,000 per Bitcoin, totaling around $740 million. With this acquisition, Strategy’s total holdings now exceed 607,770 BTC, valued at approximately $71 billion. This figure cements Strategy’s position as the largest corporate holder of Bitcoin worldwide.

The STRC issuance joins a growing suite of financial instruments—such as STRD, STRK, and STRF—created by the company to raise capital for its Bitcoin-centric strategy. In early July, Strategy raised $4.2 billion via the STRD offering, a similar preferred stock issuance aimed at purchasing Bitcoin. By leveraging equity-based financing rather than debt, Strategy is building a diversified and relatively low-risk capital structure to support its BTC ambitions.

Institutional Appeal and Financial Innovation

The new STRC shares offer an attractive opportunity for investors seeking exposure to Bitcoin without directly holding the asset. The 9% starting yield makes STRC an appealing fixed-income alternative, especially in the current high-interest rate environment. It also enables traditional investors—such as family offices and hedge funds—to gain indirect Bitcoin exposure while earning consistent returns.

Moreover, Strategy’s use of preferred equity instruments demonstrates a pioneering approach in corporate finance. Rather than relying on conventional funding models or debt, the company is creating new pathways for capital formation aligned with its digital asset thesis. This innovation has positioned Strategy as a bellwether in the institutional adoption of Bitcoin.

CEO Michael Saylor, who has long championed Bitcoin as “digital gold,” continues to double down on the asset as a foundational element of the company’s long-term vision. With multiple funding vehicles now in play, Strategy appears poised to scale its holdings even further, potentially reaching new milestones in corporate crypto adoption.

As Bitcoin continues to gain legitimacy as a macro asset, Strategy’s capital market maneuvers could set a precedent for other firms seeking to blend traditional finance with digital asset exposure.