Bitcoin News Today: MicroStrategy raises $2.474 billion via preferred stock to boost Bitcoin holdings beyond 607,770 BTC.

MicroStrategy Inc. (NASDAQ: MSTR) has intensified its corporate Bitcoin strategy with a $2.8 billion preferred stock offering, further solidifying its position as a leading institutional buyer of the cryptocurrency. The move, announced on July 24, 2025, involves issuing 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) at $90 per share, generating net proceeds of approximately $2.474 billion after underwriting fees [1]. This upsized offering reflects heightened demand for yield-linked instruments tied to Bitcoin’s performance, with Morgan Stanley and Barclays serving as joint book-running underwriters [5]. The capital will be allocated primarily to Bitcoin acquisitions and working capital, pushing the company’s total Bitcoin reserves beyond 607,770 BTC as of the offering date [2].

The preferred stock structure includes a 9% initial annual dividend, payable monthly in cash, with the first distribution slated for August 31, 2025. The dividend rate is subject to adjustments linked to the one-month SOFR rate, capped at 25 basis points above the benchmark [3]. MicroStrategy retains redemption rights, allowing it to repurchase shares at $101 plus accrued dividends under specific conditions, such as tax-related events or fundamental corporate changes [4]. The company aims to maintain the STRC stock’s trading price near its $100 stated value through strategic dividend management, signaling long-term confidence in its dual-exposure model of software operations and Bitcoin holdings.

This strategy has redefined MicroStrategy’s corporate identity, transforming it into a hybrid entity with over $71.8 billion in Bitcoin holdings, representing a 76% net asset value (NAV) premium [2]. CEO Michael Saylor’s aggressive approach has driven Bitcoin purchases exceeding 6,000 BTC in July 2025 alone, elevating the firm’s reserves to approximately 607,770 BTC [5]. While this has generated shareholder value during the current bull market, critics caution that allocating a significant portion of corporate assets to a volatile asset class could undermine financial flexibility if prices reverse [6].

The offering underscores a broader shift in corporate Bitcoin adoption. By leveraging preferred stock, MicroStrategy has attracted institutional investors seeking exposure to digital assets without direct ownership of the cryptocurrency. Analysts highlight that the firm’s success hinges on sustained Bitcoin price momentum and broader institutional acceptance [7]. The company’s purchasing activity, which historically correlates with price spikes, has created a feedback loop reinforcing its market influence [8]. Competitors are reportedly exploring similar strategies, signaling a potential normalization of Bitcoin on corporate balance sheets [9].

Shares of MicroStrategy closed at $405.89, marking a 2.18% decrease on the day. The company’s market capitalization reached $115.1 billion, with enterprise value reported at $126.8 billion. Over the past three months, the stock has gained 10%, and over the past year, it is up 153%. The BSE return stands at 3,183% [5]. Trading volume registered $3.4 billion, while the 30-day average reached $5.3 billion. Open interest was $83.3 billion. Shares currently trade at an mNAV of 1.76, recording a 76% premium to the company’s underlying Bitcoin NAV, which stands at $72.0 billion. However, debt is reported at $8.2 billion, or 11% of the Bitcoin NAV, while preferred equity totals $3.5 billion, equal to 5% of the NAV [5].

MicroStrategy’s ongoing Bitcoin accumulation continues to set a new record in corporate digital asset exposure. The company’s latest filings and portfolio tracker show a long-term accumulation strategy, supported by recent fundraising initiatives and a strong approach to balance sheet management. Total holdings are valued at $71.8 billion, with an all-time unrealized profit of $28.17 billion. Since the company’s first Bitcoin purchase in 2020, the dashboard records a dollar-cost average that remains below the current spot price of $118,533 [2]. Throughout 2024 and 2025, a series of large purchases are recorded during periods of market rallies. The company’s acquisition activity remains constant, resulting in a 64.58% cumulative gain and a large reserve above its cost basis. Periods of price stabilization in 2021–2022 and 2023 are shown by limited movement in the average purchase price, while next rallies point to continued accumulation [5].

Regulatory observers note that MicroStrategy’s approach could serve as a precedent for governance models integrating digital assets, though no legal challenges have emerged thus far. The firm’s bold stance contrasts with more conservative corporate strategies prioritizing diversification and risk mitigation [7]. As the offering settles on July 29, 2025, the market will closely monitor its impact on Bitcoin’s price dynamics and corporate adoption trends [1].

Source:

[1] [Strategy™ Launches $2 Billion Preferred Stock Offering](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)

[2] [MicroStrategy Inc. Stock Quote (U.S.: Nasdaq) - MSTR](https://www.marketwatch.com/investing/stock/mstr)

[3] [Preferred Stock Carries 9% Initial Annual Dividend](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)

[4] [Redemption Rights Offer Flexibility and Control](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)

[5] [MicroStrategy Inc., the software company led by CEO Michael Saylor...](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)

[6] [MicroStrategy’s Strategic Pivot](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)

[7] [Analysts Note Evolving Corporate Bitcoin Dynamics](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)

[8] [Market Sentiment and Bitcoin Price Correlation](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)

[9] [Corporate Governance and Regulatory Considerations](https://cryptofrontnews.com/michael-saylor-doubles-down-microstrategy-raises-2b-for-more-bitcoin/)