Strategy (Nasdaq: MSTR), earlier known as MicroStrategy, plans to raise $2.1 billion through the sale of the shares of its 10.00% Series A Perpetual Strife Preferred Stock (Nasdaq: STRF) to acquire Bitcoin , the firm announced on May 22.
The firm said it has entered into a sales agreement with TD Securities, Barclays Capital, and The Benchmark Company for the sale of the STRF shares.
Strategy is a Virginia-headquartered tech firm that began acquiring Bitcoin as its primary treasury asset in 2020. It is the world's largest corporate Bitcoin holder, with 576,230 BTC worth $64.25 billion on its balance sheet as of now.
Launched on March 26, the STRF stock was exchanging hands at $99.87 in pre-market hours at the time of writing, up 11.83% a month.
Another preferred stock offered by the company, the 8.00% Series A Perpetual Strike Preferred Stock (Nasdaq: STRK), was trading at $101.75 in pre-market, up 17.65% a month.
Meanwhile, the MSTR stock was trading at $413.12 in pre-market, up 26.73% a month.
Michael Saylor , the firm's founder and executive chairman, is among those entrepreneurs who are most bullish on Bitcoin. In fact, he predicted that the king coin will hit $13 million by 2045.
"MicroStrategy is in a position where we can grow from a $100 billion enterprise to a $1 trillion enterprise to a $10 trillion enterprise," Saylor recently told The Financial Times.
"If that happens, our company becomes the most valuable in the world," the chairman continued.
The firm's market cap stands at 111.39 billion as of now.
Meanwhile, Bitcoin hit the record high of $111,861.22 on May 22. BTC was exchanging hands at $111,370.70 at the time of writing, as per Kraken .
Michael Saylor has a shocking plan to boost Strategy's balance sheet first appeared on TheStreet on May 22, 2025
