Strategy, the business intelligence firm turned Bitcoin giant, has raised $2 billion through a preferred stock sale to purchase additional Bitcoin, expanding from an initial $500 million target due to overwhelming investor demand. The business intelligence company priced its Series A Perpetual Stretch preferred shares at $90 each on Thursday, reinforcing its position as the world’s largest corporate Bitcoin holder.
This stock sale was first planned to raise $500 million, but the company increased it due to strong interest from investors. A source familiar with the matter told Bloomberg that the $90 pricing is the lowest in the expected $90–$95 range and represents a discount from the $100 face value. The deal includes 5 million preferred shares and is underwritten by Morgan Stanley, Barclays, TD Securities, and Moelis & Co.
The new Stretch shares offer cumulative dividends that MicroStrategy can adjust monthly based on the one-month SOFR rate plus 0.25% or internal mechanisms.
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