March 21, 2025
U.Today - American business intelligence and software firm Strategy Inc. has announced its plans to upsize the offering of its Strife (STRF) perpetual preferred stock to advance its Bitcoin (BTC) bets. Per the update, the firm will now raise up to $722 million, with proceeds used to buy more Bitcoin.
The company unveiled the Strife stock earlier this month as a renewed model to advance its BTC accumulation. Formerly known as MicroStrategy, the company started buying BTC in August 2020 and has made many concessions to sustain its buy-ups to date.
Prior to this period, the company offered Convertible Senior Notes, a debt issuance with long-term debt expiration. The firm believes offering Strife can help it rebuild its momentum in its pursuit of becoming a top Bitcoin bank.
This purchase saw its combined holdings reach 499,226 BTC, a sum now valued at over $33.1 billion. Strategy’s Bitcoin bet now serves as a major template for other companies adopting BTC as their treasury reserve strategy.
Known as one of the biggest advocates of digital currency, Michael Saylor has reaffirmed the firm’s commitment to keep its BTC holdings for the long term. At press time, the BTC price was changing hands for $83,724, down by 1.81%.
This article was originally published on U.Today