Strategy (MicroStrategy), known for its Bitcoin treasury management, has raised $2.52 billion in proceeds, carrying out the largest US IPO of 2025.
With this proceeds, the company purchased 21,021 Bitcoins at an average price of $117,256. Following the purchase, Strategy's total Bitcoin holdings reached 628,791 BTC.
A total of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock, which will begin trading on the Nasdaq Global Select Market under the ticker symbol STRC around July 30, 2025, were offered for sale at an initial public offering price of $90. The company's post-offering net income was approximately $2.474 billion.
This transaction is the largest IPO in the US in 2025, as well as the largest perpetual preferred stock offering listed on US exchanges since 2009. STRC is also notable as the first perpetual preferred stock structured on a Bitcoin treasury and offers investors the opportunity to receive monthly dividends.
The Strategy added Bitcoin assets acquired for a total of $46.8 billion to its portfolio at an average cost of $73,227.
*This is not investment advice.