Strategy Acquires 21,000 Bitcoins After A $2.5 Billion IPO

Michael Saylor strikes again, and this time with a bang. His company, now named Strategy, has just purchased 21,021 bitcoins at over $117,000 each. A five-figure amount per BTC that hits like a message. Yes, the machine is well-oiled. Yes, the appetite remains intact. And above all, the “digital asset treasury” mechanism seems increasingly mastered. While others doubt, Saylor injects billions once again.

A record IPO to fuel the Bitcoin strategy

Strategy, from Michael Saylor, raised $2.5 billion through a STRC preferred stock offering, the largest American IPO of 2025. This raise allowed the purchase of 21,021 bitcoins for a total of $2.46 billion. The average price paid: $117,256 per BTC.

With this acquisition, while many thought Strategy had slowed down its purchases , the company now reaches 628,791 BTC, worth nearly $74 billion.

The originality of the model lies in the use of floating dividend shares, designed to attract investors seeking stable yields without direct exposure to BTC. Ryan Yoon, analyst at Tiger Research, explains :

Institutions want exposure to Bitcoin but packaged as a traditional investment product. STRC works because it pays dividends like a bond while providing indirect exposure to Bitcoin.

This structure appeals because it combines yield and Bitcoin’s upside potential without the complexities of direct holding.

The pioneer of the “digital asset treasury” establishes itself as a reference

Since 2020, Strategy has been applying its “42/42 plan” aiming to raise $84 billion to buy Bitcoin. This long-term vision has already inspired more than 160 listed companies to integrate BTC into their balance sheets. At the same time, the company refines its financial tools: STRK, STRF, STRD, and now STRC, each adapted to a specific investor profile.

Strategy’s credibility rests on three solid pillars, according to analyst Ryan Yoon (Tiger Research):

It takes three elements for this model to work: a credible Bitcoin reserve, access to Wall Street financial tools, and a stock trading above the value of its BTC holdings.

STRC, for example, pays a monthly dividend adjusted by the board, enhancing its appeal to investors seeking regularity, even in a volatile crypto market.

The Strategy model: financial stability and Bitcoin surge

Unlike traditional speculative strategies, Strategy anchors its expansion in a financial engineering logic. With this record IPO, the company demonstrates that Bitcoin and traditional markets can coexist harmoniously. Products like STRC serve as bridges between two worlds: monthly dividends and digital volatility.

Here is what it concretely means:

• The STRC IPO generated $2.521 billion , the largest of 2025;
• 21,021 BTC were acquired, bringing the total held to 628,791 units;
• The average purchase price is $117,256 per bitcoin;
• STRC becomes the first perpetual monthly dividend stock linked to BTC listed on Nasdaq;
• Strategy plans to continue this model to raise up to $84 billion.

According to an analysis relayed by TD Cowen , Strategy still has enough financial room to acquire up to 17,000 additional bitcoins, without having to dilute its shareholders. This projection illustrates how viable their preferred stock issuance strategy remains in the long term.

Bitcoin hesitates below 119K $ . Some question, hesitate, take profits. Not Saylor. He persists, methodical. In a recent tweet, he writes: “The cowards never dared to start, and the weak fell along the way“. A motto increasingly aligned with his trajectory. While the market awaits a hypothetical altseason, he continues stacking BTC. Will history prove him right? The script is being written.