Strategy Resumes Bitcoin Buys After $2.5B IPO

Strategy, formerly known as MicroStrategy, completed the largest U.S. IPO of 2025 by raising $2.52 billion through the sale of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) at $90 per share. The company used the proceeds to purchase 21,021 Bitcoin at an average price of $117,256 per coin, increasing its total Bitcoin holdings to 628,791 BTC, valued at approximately $74 billion. STRC is set to begin trading on Nasdaq, marking the first exchange-listed perpetual preferred security from a Bitcoin treasury company. This financial milestone more than doubled the size of Circle's June IPO and is the largest perpetual preferred stock offering since 2009. The move resumes Strategy’s aggressive Bitcoin acquisition strategy after a brief pause. The company’s actions continue to reinforce its position as the largest public corporate Bitcoin holder and a leader in digital asset treasury innovation.