Strategy Doubles Down on Bitcoin Holdings Through $1 Billion Preferred Stock Offering

Crypto-focused company Strategy, formerly MicroStrategy, recently boosted its stock offering to raise $1 billion in funding for its growing Bitcoin holdings. The firm aims to leverage this substantial investment to increase its already significant Bitcoin portfolio. 3% of the total BTC supply is now held by Strategy, according to their latest disclosure. 11.7 million shares of their 10% Series A Stride Preferred Stock (STRD) will be offered at $85 each with a closing date set for June 10th. The deal received strong investor interest, resulting in an increase from the initial $250 million offering.