Saylor's firm raised ~$700M for BTC
Michael Saylor's company raised roughly $700 million to buy about 10,000 Bitcoin, a move described on social channels as a large institutional accumulation during bear‑market lows. The post framed the raise as a notable capital flow into crypto allocations. (x.com/TheBTCTherapist/status/2042731485761786129)
Strategy sold a new preferred stock and cleared about $711 million in March 2025, giving Michael Saylor’s company fresh cash for more Bitcoin. (businesswire.com) The company priced 8.5 million shares of its 10.00% Series A Perpetual Strife Preferred Stock at $85 each on March 20, 2025, with settlement scheduled for March 25. Strategy said the net proceeds would be about $711.2 million after fees and expenses. (businesswire.com) Strategy said in its March 18, 2025 announcement that the proceeds were for “general corporate purposes,” including Bitcoin purchases and working capital. The security pays a 10% annual dividend rate and, unlike some earlier Strategy instruments, was sold as preferred stock rather than common shares. (strategy.com, finance.yahoo.com) A preferred stock sale is a way to raise cash without issuing straight debt like a bond. Investors get a stated dividend and a higher claim than common shareholders, while the company gets money it can deploy immediately. (strategy.com) That financing mattered because Strategy was already using equity, preferred stock, and debt markets as a repeat funding loop for Bitcoin accumulation. In an April 7, 2025 filing, the company said it had completed the STRF offering on March 25 and received about $711.2 million in net proceeds. (sec.gov) Within days, Strategy disclosed another large Bitcoin purchase. The company said on March 31, 2025 that it had acquired 22,048 Bitcoin between March 24 and March 30 for about $1.92 billion at an average price of $86,969 each, bringing total holdings to 528,185 Bitcoin. (strategy.com, sec.gov) That means the preferred-stock raise was real cash inside a much larger capital stack, not a one-off trade. The same March 31 filing showed Strategy also sold 3,645,528 common shares for about $1.20 billion during that week, alongside the new preferred offering. (sec.gov) The company’s Bitcoin buying had already crossed a symbolic line a week earlier. On March 24, 2025, Strategy said it bought 6,911 Bitcoin for $584.1 million, lifting its holdings above 500,000 Bitcoin for the first time to 506,137. (coindesk.com, strategy.com) By April 6, 2025, Strategy said it held 528,185 Bitcoin acquired for $35.63 billion at an average purchase price of $67,458 per coin. The company reported no additional Bitcoin purchases in the week after the March 31 buy. (sec.gov) Strategy’s filings also spelled out the risk behind the model: its assets are concentrated in Bitcoin, and a significant drop in Bitcoin’s market value could hurt its ability to meet financial obligations. That leaves investors weighing Saylor’s long-running bet on Bitcoin against the cost of funding it with dividend-paying preferred stock and repeated share sales. (sec.gov)
