Strategy, the largest corporate holder of Bitcoin, has raised $263.5 million through at-the-market sales of its Class A common stock, bringing its cash reserves to $3.225 billion as the company continues its aggressive Bitcoin accumulation strategy. The enterprise software firm formerly known as MicroStrategy disclosed the raise in a Friday filing, noting it sold approximately 1.1 million shares at an average price of $239.54.
The company now holds 843,775 BTC, acquired at an aggregate cost of $34.7 billion and an average purchase price of $41,127 per bitcoin. At current prices near $67,000, the stash carries an unrealized gain of roughly $21.8 billion. Strategy’s Bitcoin holdings represent roughly 4% of Bitcoin’s total circulating supply, making it by far the largest corporate treasury holder.
Executive Chairman Michael Saylor has framed the latest raise as opportunistic capital deployment, telling shareholders the company is “accelerating accumulation” while Bitcoin trades below what he considers fair value. The at-the-market facility allows Strategy to sell shares opportunistically without the dilution drag of traditional block offerings, a structure Saylor has championed as superior to convertible debt for Bitcoin-acquisitive companies.
Strategy also disclosed that investors continue to weigh the value of its newly issued STRK preferred shares, which carry an 8% fixed dividend and convert to common stock at a 10% premium. The preferred offering raised $584 million in June, and early conversion activity suggests institutional holders view the instrument as a Bitcoin-linked yield vehicle rather than pure equity. As reported by Cointelegraph.
