đ„đ±Strategy Launches STRD on Nasdaq with $980M Bitcoin-Backed Momentumđ„
Strategy, formerly known as MicroStrategy (Nasdaq: MSTR), has launched a new bitcoin-collateralized preferred equity under the ticker STRD, now trading on the Nasdaq. The launch marks the third in Strategyâs series of bitcoin-backed stock offerings and reflects growing institutional demand for high-yield crypto exposure.
The company raised approximately $980 million in net proceeds after costs, significantly surpassing its initial $250 million goal. This was achieved by issuing 11.76 million shares at $85 each, driven by overwhelming investor interest. Executive Chairman Michael Saylor announced the debut on X (formerly Twitter), highlighting the firmâs continued efforts to raise capital for expanding its bitcoin reserves.
With STRD, Strategy now offers three types of preferred stock:
STRK: 8% cumulative dividend, convertible to common shares.
STRF: 10% cumulative yield, non-convertible, top liquidation priority.
STRD: 10% non-cumulative yield, non-callable, highest risk, appealing to yield-focused investors.
The proceeds will be used to further grow Strategyâs bitcoin holdings, which currently total 582,000 BTC, the largest among public companies. This move aligns with its broader financial strategy to attract varied investor profiles while continuing aggressive crypto accumulation.
Michael Saylor remains confident in bitcoinâs long-term value, projecting it could hit $1 million in the near term and $13 million by 2045, citing scarcity, institutional adoption, and enhanced regulatory clarity as key drivers.
