MicroStrategy Doubles Down on Bitcoin: $250M Preferred Stock IPO to Fund More Crypto Purchases
Wall Street’s favorite corporate bitcoin hoarder is at it again. MicroStrategy—the enterprise software firm that morphed into a crypto hedge fund—just filed paperwork for a $250 million preferred-stock offering. The goal? Buy more BTC, naturally.
Because when your core business stagnates, why not YOLO into volatile digital assets? The move comes as bitcoin flirts with all-time highs, proving once again that Michael Saylor’s appetite for crypto remains insatiable. No word yet on whether the offering will include a ’diamond hands’ clause for investors.
One thing’s certain: while traditional companies issue stock to fund R&D or expansion, MicroStrategy treats Wall Street like a personal bitcoin ATM. The SEC hasn’t blinked yet—but the audacity would make even a DeFi degens blush.
Strategy Plans Major IPO to Raise Funds for Bitcoin Expansion
According to Strategy’s official announcement, the offering targets institutional and select non-institutional investors. Holders are eligible for non-cumulative dividends, paid quarterly if declared, at a 10% annual rate.
“Strategy will have the right, at its election, to redeem all, but not less than all, of the STRD Stock, at any time, for cash if the total number of shares of all STRD Stock then outstanding is less than 25% of the total number of shares of STRD Stock originally issued in the offering and in any future offering, taken together,” the statement read.
The offering plan follows Strategy’s latest acquisition of 705 BTC for around $75.1 million yesterday. SaylorTracker data shows that the firm holds 580,955 BTC, valued at over $60 billion.
Strategy’s move comes amid a wave of corporate cryptocurrency adoption. On June 2, Hong Kong-based Reitar Logtech Holdings Limited (RITR), a logistics solutions provider, revealed that it is in advanced negotiations to create a strategic Bitcoin treasury. The initiative aims to purchase up to 15,000 BTC, valued at approximately $1.5 billion.
“Management believes this treasury diversification could provide several strategic benefits including enhanced financial resilience through allocation to a non-correlated digital asset, increased financial flexibility for future strategic acquisitions in logistics technology and automation platforms, and positioning for expansion in high-growth Asian markets where demand for smart logistics infrastructure continues to increase,” the filing read.
Similarly, the Norwegian Block Exchange (NBX) made history as Norway’s first listed company to adopt bitcoin as a treasury asset. The company has acquired 6 Bitcoin and aims to raise its holdings to 10 BTC by June.
In Russia, Sberbank, the country’s largest bank, launched structured bonds tied to Bitcoin. This product is available to a limited group of qualified investors in the over-the-counter market.
Beyond Bitcoin, other digital assets are also gaining traction. BTCS, a blockchain tech firm, acquired 1,000 ETH, bringing its ethereum holdings to 13,500 ETH.
“Ethereum remains at the Core of our blockchain infrastructure strategy. Our expanding ETH position is not simply a treasury play-it’s a strategic byproduct of our NodeOps and high-growth Builder+ activities. We are focused on building highly scalable, revenue-generating infrastructure,” CEO Charles Allen said.
Meanwhile, Classover, an edtech company, is focusing on building a solana (SOL) treasury reserve. The company previously bought 6,472 SOL for approximately $1.05 million.
Now, it has entered into an agreement to issue up to $500 million in senior secured convertible notes, with an initial $11 million funding set to close soon. A significant portion of the proceeds, up to 80%, will be allocated to purchasing SOL.
These developments reflect a broader shift among corporations to diversify treasury assets with cryptocurrencies.
