Strategy buys 21K Bitcoin in biggest US IPO of 2025

NEWS IN BRIEF

Strategy has raised $2.5 billion through its latest IPO, enabling it to purchase 21,021 Bitcoin, increasing its total holdings to 628,791 BTC
STRC, Strategy’s new perpetual preferred stock, will begin trading on Nasdaq, offering monthly dividends to attract income-focused investors
Despite a modest decline in MSTR shares following the announcement, Strategy’s stock has risen 31.55% this year, following a massive surge in 2024

In a significant move for the crypto industry, Strategy (formerly known as MicroStrategy) announced the purchase of 21,021 Bitcoin, adding to its already massive cryptocurrency holdings. This acquisition came after the company raised a staggering $2.5 billion through its fourth preferred stock offering, marking the largest initial public offering (IPO) in the U.S. in 2025.

Strategy has acquired 21,021 BTC for ~$2.46 billion at ~$117,256 per bitcoin and has achieved BTC Yield of 25.0% YTD 2025. As of 7/29/2025, we hodl 628,791 $BTC acquired for ~$46.08 billion at ~$73,277 per bitcoin. $MSTR $STRK $STRF $STRD $STRC https://t.co/PEQQGfvkYe
— Michael Saylor (@saylor) July 29, 2025

Strategy makes massive Bitcoin purchase after successful IPO

The Bitcoin purchase was made at an average price of $117,256 per coin, bringing Strategy’s total Bitcoin holdings to an impressive 628,791 BTC, according to BitcoinTreasuries.NET data. This is the company’s largest Bitcoin acquisition since its previous buy on March 31, further solidifying its position as the largest Bitcoin holder among public companies.

Subscribe to our

Get weekly updates on the newest crypto stories, case studies and tips right in your mailbox.

Strategy raised the $2.5 billion by selling 28 million shares of Variable Rate Series A Perpetual Preferred Stock (STRC) at $90 each, far surpassing its initial goal of $500 million. The offering has been hailed as the largest U.S. IPO of 2025 in terms of gross proceeds, even outpacing the highly anticipated $1 billion IPO for stablecoin issuer Circle Internet Group in June.

This marks another step in Strategy’s ongoing strategy of using various financial products, including equity, debt, and convertible notes, to fund its Bitcoin acquisitions. The firm’s model has inspired over 160 publicly traded companies to add cryptocurrency to their balance sheets, pushing forward the broader institutional adoption of Bitcoin.

Driving the digital transformation of IPOs with $BTC.$STRK $STRF $STRD $STRC pic.twitter.com/ydraj0QTKt
— Strategy (@Strategy) July 28, 2025

STRC to start trading on Nasdaq, paying monthly dividends

The newly issued STRC stock is set to start trading on the Nasdaq on Wednesday. It will be the first U.S. exchange-listed perpetual preferred security issued by a Bitcoin treasury company that offers monthly dividends. The dividends will be adjusted by the board and are aimed at attracting income-focused investors.

STRC is just the latest in Strategy’s series of perpetual preferred stock offerings designed to fund its Bitcoin purchases. Previous offerings, including Strike (STRK), Strife (STRF), and Stride (STRD), have also been used by the company to finance its growing Bitcoin reserves.

Strategy’s stock performance

Despite the positive news surrounding its latest Bitcoin purchase, shares in Strategy (MSTR) closed down 2.26% on Tuesday, and saw little movement in after-hours trading, rising by just 0.52% to $396.70. However, MSTR has seen a 31.55% increase in its stock price so far in 2025, which follows an impressive 358.55% rise in 2024.

This comes just ahead of Strategy’s second-quarter earnings report, which is expected to provide insights into how its recent capital raises and Bitcoin purchases have impacted its balance sheet.