Michael Saylor’s Bitcoin-focused company, Strategy, has raised a record-breaking $2.5 billion in its latest capital raise, using the proceeds to purchase 21,021 BTC at an average price of $117,256 per coin. The move brings Strategy’s total Bitcoin holdings to 628,791 BTC, valued at more than $74 billion at current market rates.
The raise was completed through a newly launched financial instrument called STRC, a class of perpetual preferred stock that begins trading on the Nasdaq today. STRC offers a floating monthly dividend starting at 9%, appealing directly to retail income-focused investors.
In a statement, Strategy described STRC as the first-ever U.S. exchange-listed perpetual preferred security issued by a Bitcoin treasury company that pays monthly dividends.
This offering surpasses the company’s previous capital raises, including its $800 million convertible note deal in June 2024 and the March 2025 launch of STRF, which had initially been labeled as the company’s “crown jewel” through a $2.1 billion at-the-market equity program.
Unlike STRF, which targeted institutional participants, STRC is tailored for retail investors seeking steady yields without direct exposure to Bitcoin’s price volatility. The structure of STRC makes it attractive to investors like pension funds and insurance companies, which are often restricted from holding crypto assets directly.
“Yield products like STRC offer Bitcoin exposure without spot market volatility,” said Vincent Liu, CIO at Kronos Research. “It deepens liquidity without pressuring the order book.”
“Institutions want Bitcoin exposure but need it packaged like traditional investments,” added Ryan Yoon, senior analyst at Tiger Research. “STRC pays dividends like a bond while offering indirect BTC exposure.”
Yoon emphasized that retail and institutional investors view STRC as a compliance-friendly crypto yield product, eliminating operational risks associated with managing private keys or custody solutions.
Despite the strong demand, Yoon noted that replicating Strategy’s success won’t be easy.
“The Strategy model works because they got there first and built scale. You need three things to succeed: a credible Bitcoin reserve, Wall Street financing tools, and a stock that trades above the value of your BTC holdings.”
He added, “Most new digital asset treasury companies lack all three.”
To truly scale this financial model, companies will need more than speculative gains.
“You need a brand, strategy, and infrastructure — not just hopes that the price goes up,” said Yoon.
With STRC now live on Nasdaq and investors receiving monthly dividends, Strategy is setting the benchmark for how traditional finance can blend with digital assets — offering a glimpse into what the future of Bitcoin-backed instruments may look like.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
