The world's largest Bitcoin-holding company – Strategy, founded by Michael Saylor – has just announced a noteworthy strategy: the initial public offering (IPO) of a new preferred stock called STRC, aimed at raising additional capital to expand Bitcoin holdings and support working capital.
According to an official announcement on Monday, Strategy plans to issue 5 million long-term Class A preferred shares with a variable interest rate (STRC). Each share has a par value of $100 and comes with an initially projected monthly dividend of 9% per year – an attractive figure given the ongoing volatility in market interest rates.
A new form of finance?
Unlike conventional stock offerings, STRC shares are designed with a market-adjusted dividend mechanism to maintain trading prices around the par value of $100. This has led many experts to compare STRC to a 'synthetic stablecoin with profit potential' – a financial tool that combines stocks and stable value assets.
Adam Livingston, a Bitcoin expert, commented on platform X:
"You are not simply buying shares. You are buying a channel for profitable Bitcoin."
He believes that Strategy could use a monthly yield adjustment mechanism as a way to attract fiat cash flow for investing in Bitcoin through a DCA model – dollar-cost averaging over time.
IPO for selected investors – a strategic move from Saylor
Michael Saylor stated that the STRC stock offering will take place as a limited IPO, reserved for selected investors, rather than being opened to the public market.
This announcement comes just two weeks after Strategy revealed plans to raise $4.2 billion through an At-The-Market (ATM) stock offering – a mechanism allowing the company to flexibly issue new shares in the market to raise funds for additional Bitcoin purchases.
On the same day as the STRC announcement, Strategy also revealed that it had purchased an additional $740 million worth of Bitcoin at an average price of $118,940/BTC – a strong move demonstrating the company's confidence in the long-term growth potential of this digital asset.
Bitcoin – from investment asset to corporate financial platform
The emergence of STRC reflects a new trend in corporate finance, where Bitcoin is not just seen as an investment asset but also as the centerpiece of financial strategy and fundraising.
According to Adam Back, CEO of Blockstream and inventor of Hashcash – the foundation of the Proof-of-Work mechanism in Bitcoin – the rise of companies like Strategy and Metaplanet could open up a $100–200 trillion market as more large corporations incorporate Bitcoin into their corporate treasuries.
"A sustainable and scalable wave of super Bitcoinization is forming, with expected transaction volumes in the market ranging from $100 to $200 trillion. This process is strong enough to drive most major publicly listed corporations to transition to holding Bitcoin in their corporate treasuries," Back emphasized.
With the STRC model, Strategy not only creates an innovative financial instrument but also sets a precedent for how companies can combine traditional capital markets and digital assets to scale their operations.
With Bitcoin prices hovering around $119,000, Strategy's ambitious and proactive moves are closely monitored by investors. If this fundraising strategy succeeds, it could open a new chapter for investment flows into Bitcoin, while reinforcing the central role of cryptocurrency in the global financial ecosystem.