Bitcoin News Today: Strategy Completes $2.5B IPO to Buy 21,021 Bitcoins in Treasury Push

The corporate Bitcoin treasury firm Strategy has raised $2.52 billion through the largest U.S. IPO of 2025 by issuing its Variable-Rate Series A Perpetual Stretch Preferred Stock (STRC). The offering, priced at $90 per share for 28,011,111 shares, resulted in $2.474 billion in net proceeds, which were immediately used to purchase 21,021 additional bitcoins at an average price of $117,256 per coin [1][2][4]. This acquisition increased Strategy’s total Bitcoin holdings to 628,791 BTC, with a cumulative acquisition cost of approximately $46.8 billion, including fees [4][6].

The STRC shares, offering a variable 9% annual dividend paid monthly, are the first U.S. exchange-listed perpetual preferred shares issued by a Bitcoin treasury company. The stock began trading on the Nasdaq Global Select Market on July 30, 2025, following a heavily oversubscribed offering period from July 14 to July 20 [4]. The deal represents the largest U.S. exchange-listed perpetual preferred stock offering since 2009 and has been structured to attract income-focused investors seeking exposure to Bitcoin without directly holding the asset [5].

Strategy’s continued accumulation of Bitcoin underscores CEO Michael Saylor’s long-standing strategy of treating Bitcoin as “digital property,” a narrative reinforced through aggressive capital raises and treasury expansion. The firm has used a mix of equity and debt financing to grow its Bitcoin holdings, positioning itself as the largest corporate Bitcoin holder globally [5]. This recent acquisition aligns with its broader 42/42 program, which aims to raise $84 billion by 2027 to acquire more Bitcoin [4].

Following the IPO, Strategy did not report new Bitcoin purchases in late July, marking a 39% decline in monthly acquisitions compared to June [8]. This suggests a potential shift to a more measured approach, allowing the company to evaluate market conditions and liquidity before making further treasury moves [8]. Despite this slowdown, the firm’s year-to-date return on its Bitcoin portfolio stands at 25%, based on current valuations [4].

The market response has been mixed, with Bitcoin prices remaining below $120,000 amid anticipation of U.S. Federal Reserve policy developments. On-chain data indicates increased whale activity, reflecting long-term bullish sentiment, yet short-term volatility remains a concern [9]. Strategy’s latest IPO and subsequent Bitcoin purchases highlight the growing institutionalization of Bitcoin as a corporate asset, setting a precedent for other firms to follow suit in leveraging capital markets for treasury growth.

Sources:

[1] Brave New Coin. (2025). Strategy Closes Record-Breaking $2.5B STRC IPO, Buys 21K More Bitcons in Bold Treasury Play. https://bravenewcoin.com/insights/strategy-closes-record-breaking-2-5b-strc-ipo-buys-21k-more-bitcoins-in-bold-treasury-play

[2] RTTNews. (2025). Strategy Raises $2.5 Bln In Record 2025 IPO, Adds 21K Bitcoins to Treasury. https://www.rttnews.com/3558975/strategy-raises-2-5-bln-in-record-2025-ipo-adds-21k-bitcoins-to-treasury.aspx?type=corp

[4] MEXC. (2025). Strategy Doubles Down: 21021 Bitcoin Acquired After Record 2.5B IPO for New Stretch Stock. https://www.mexc.com/news/strategy-doubles-down-21021-bitcoin-acquired-after-record-2-5b-ipo-for-new-stretch-stock/62827

[5] Cryptopolitan. (2025). Strategy Raises $2.5B to Buy 21000 Bitcoins in Major Crypto IPO. https://www.cryptopolitan.com/strategy-raises-2-5b-to-buy-21000-bitcoins-in-major-crypto-ipo/

[6] Investing.com. (2025). Strategy Completes $2.5 Billion IPO, Adds 21021 Bitcoins to Holdings. https://uk.investing.com/news/company-news/strategy-completes-25-billion-ipo-adds-21021-bitcoins-to-holdings-93CH-4189937

[8] Cointribune. (2025). Strategy Bought No BTC in Late July: What's Behind It? https://www.cointribune.com/en/strategy-bought-no-btc-in-late-july-whats-behind-it/

[9] Economies.com. (2025). Bitcoin Falls Below $118,000 Amid Fed, Tariff Caution. https://www.economies.com/crypto/news/bitcoin-falls-below-$118,000-amid-fed,-tariff-caution-46988