Strategy, known as the largest corporate owner of Bitcoin, announced a successful IPO of 11.76 million shares of 10% Series A Perpetual Stride Preferred Stock (STRD) at a price of $85 per share, raising approximately $979.7 million. This was reported in a press release dated June 5, 2025. The funds will be used to acquire additional Bitcoins and for general corporate purposes, including working capital. STRD shares offer non-cumulative dividends of 10% per annum, which will be paid quarterly, starting September 30, 2025, subject to board approval.
Strategy, formerly known as MicroStrategy, owns 580,955 $BTC worth over $61 billion, making it a leader among corporate Bitcoin investors. Recently, the company acquired another 705 BTC for $75.1 million. The STRD IPO became the largest issuance of preferred shares in the company's history, highlighting its strategy of accumulating Bitcoin. The operation is supported by leading banks, including Barclays and Morgan Stanley.
This step strengthens Strategy's position as a pioneer in using Bitcoin as a reserve asset. Stay updated on cryptocurrency market news from #MiningUpdates
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