Strategy has launched a new capital raise of up to $4.2 billion through its 10.00% Series A Perpetual Stride Preferred Stock (STRD), aiming to further increase its Bitcoin reserves.
Strategy Announces $4.2 Billion $STRD At-The-Market Program pic.twitter.com/JVIYQmQSpv
— Michael Saylor (@saylor) July 7, 2025
The move signals continued momentum behind institutional adoption of Bitcoin.
The filing outlines an at-the-market (ATM) offering, which gives Strategy the flexibility to gradually sell STRD shares over time.
Funds will be directed toward Bitcoin accumulation and general corporate initiatives. This announcement comes on the heels of the firm disclosing $14.05 billion in unrealized Q2 gains.
“The institutional landscape has fundamentally transformed. From Strategy’s 597,325 Bitcoin holdings to Metaplanet’s 15,555 Bitcoin and Deutsche Bank’s custody plans, we’re seeing unprecedented institutional engagement across markets.”
In Q2 alone, Strategy secured $6.8 billion through equity and preferred stock raises.
The firm still has ample runway, with $18.1 billion remaining under its 2025 Common ATM, $20.5 billion under its STRK ATM, and $1.9 billion under its STRF ATM.
Chairman Michael Saylor described the STRD issuance as the firm’s “fourth gear” in its Bitcoin accumulation model, this round tailored for yield-seeking investors who value returns backed by collateral. A prior STRD offering in June brought in nearly $1 billion.
Strategy’s multi-channel capital strategy has emerged as a leading institutional model for Bitcoin acquisition, creating structured pathways for different investor profiles to participate in Bitcoin’s upside while supporting the firm’s continued expansion.
With over 597,000 Bitcoin, about 2.8% of total supply, now under its control, Strategy’s holdings are worth approximately $65 billion.