Business intelligence firm–turned–Bitcoin treasury company Strategy has reportedly increased its preferred stock offering to $2 billion, up from the previously planned $500 million, as it continues raising capital to fund additional Bitcoin purchases.
The Series A Perpetual Stretch preferred shares were priced at $90 each at noon Eastern Time on Thursday and carry an initial dividend of 9%, Bloomberg reported, citing an anonymous source.
This update comes just days after Bloomberg first revealed the preferred equity sale, which at the time was expected to be marketed between $90 and $95 per share. As Cointelegraph reported, the offering includes 5 million preferred shares.
The deal is being underwritten by several major institutions, including Morgan Stanley, Barclays, TD Securities and Moelis & Co.
Strategy’s common stock, trading under the ticker MSTR, remained largely unchanged on Thursday, trading around $413.
The stock has rallied 37% year-to-date and over 146% in the last 12 months, pushing the company’s market cap to around $116 billion.
MSTR has significantly outperformed both the S&P 500 Index and its information technology sector, each of which has gained roughly 17% over the past year, according to Fidelity Research.
It’s no surprise that Strategy’s share price has moved in tandem with Bitcoin (BTC), which has set multiple record highs since 2024. The rally has been fueled by surging institutional interest through spot exchange-traded funds (ETFs), growing regulatory approval and rising corporate treasury demand.
Related: Strategy adds $740M of Bitcoin as price surges past $122K
Bitcoin treasury strategies take center stage
Strategy remains the largest corporate holder of Bitcoin by a wide margin, with its success prompting other companies to adopt BTC as part of their treasury strategy.
According to industry data, the top 100 publicly traded Bitcoin treasury companies collectively hold 917,599 BTC. In total, all public companies combined own 918,108 BTC, with Strategy alone accounting for 66% of that total.
The latest company to make a significant move into Bitcoin is Quantum Solutions, a Japanese artificial intelligence firm listed on the Tokyo Stock Exchange. The company announced plans to acquire 3,000 BTC over the next year, describing the asset as a “long-term, strategic reserve instrument.”
Bitcoin miners have also increased their reserve activity this year, with MARA Holdings now ranking as the second-largest corporate Bitcoin holder at 50,000 BTC. Other miners, including Riot Platforms, CleanSpark and Hut 8, also feature among the top 11 corporate treasuries.
Related: Despite record high, S&P 500 is down in Bitcoin terms
