A powerful new Bitcoin-backed stock burst onto #NASDAQ , amplifying plans for large-scale cryptocurrency accumulation and increasing investor demand for high-yield digital assets.
Software development company Microstrategy (Nasdaq: MSTR), now operating under the brand #strategy , has launched its third tranche of Bitcoin-backed preferred shares. Trading for the new issue — ticker symbol STRD — began on the Nasdaq exchange.
Strategy raised approximately $980 million in net proceeds after underwriting and issuance costs, thanks to an increased offering of 11.76 million shares at $85 each due to high institutional demand exceeding the initial target of $250 million. Executive Chairman Michael Saylor reported this on social media platform X on June 11, stating:
STRD begins trading on Nasdaq today. This is the third in our series of Bitcoin-backed preferred shares. They are designed to provide fixed income, secured by $BTC , and issued by Strategy.
By diversifying its capital structure, the company now manages three instruments of preferred equity: $STRK , STRF, and STRD, each specifically structured to finance additional Bitcoin acquisitions. STRK includes 8% cumulative dividends and provides an option to convert into common stock. STRF offers a 10% cumulative yield, remains non-convertible, and has the highest liquidation priority among preferred packages. STRD, on the other hand, distributes a 10% yield on a non-competitive basis, is generally not callable, and carries the highest risk, appealing to investors looking for income in exchange for more subordinate terms.
Strategy plans to use the proceeds to expand its cryptocurrency assets, which reached 582,000 $BTC , making it the largest publicly held Bitcoin treasury. This latest capital raise underscores the firm's ongoing commitment to the strategy of accumulating digital assets through financial structures that attract investors with varying levels of risk.
Forecasting future valuation paths, Saylor expects Bitcoin to reach $1 million in the near future and $13 million by 2045. He attributes this forecast to limited supply, growing institutional inflows through exchange-traded fund channels (#etf ) and increased adoption by corporate treasuries. Recently, he stated that he has become even more optimistic about the $13 million forecast. Referring to Bitcoin as 'digital gold,' Saylor claims that strengthening regulatory clarity and the inherent resilience of the protocol eliminate the prospect of a prolonged market downturn, often referred to as 'crypto winter.'
