Key Insights:
- Strategy raised $2.47 billion net through its Series A STRC IPO at $90 per share.
- The firm used the funds to purchase 21,021 BTC at an average price of $117,256.
- Strategy now holds 628,791 BTC valued at over $46.8 billion at an average cost of $73,227.
Strategy significantly expanded its bitcoin treasury following the closure of its initial public offering of STRC preferred stock. The company raised approximately $2.474 billion in net proceeds after deducting underwriting expenses. It used the entire amount to acquire 21,021 bitcoins at an average price of $117,256 per BTC.
This latest purchase increased the firm’s total holdings to 628,791 bitcoins as of July 29, 2025. Strategy acquired these holdings for a total of $46.8 billion at an average cost of $73,227 per bitcoin. The move reinforces Strategy’s long-term position in Bitcoin as its primary treasury reserve asset.
The STRC preferred stock IPO priced at $90 per share and became the largest U.S. public offering of 2025. The shares are expected to begin trading on the Nasdaq Global Select Market around July 30, under the ticker symbol “STRC.” These shares will carry monthly dividends determined by the board under a variable rate policy.
Whales Exit as Strategy Doubles Down on Bitcoin
While Strategy accumulates, data from Alphractal shows an ongoing decline in wallets holding over 10,000 BTC. The number of these large addresses has now dropped below 90, a level not seen in years. This trend mirrors the final phase of the 2020–2021 bull market, where Bitcoin’s price surged even as large holders quietly exited.
The reduction in whale wallets raises concerns about distribution, especially as it contrasts with rising prices and growing retail interest. Analysts warn that the current divergence between price action and on-chain wallet data may point to weakening long-term support. Yet, Strategy’s buy stands in stark contrast, positioning it as one of the few institutional players still accumulating aggressively.
As of July 29, Bitcoin trades near $117,212—matching the average price paid by Strategy in its latest round of purchases. The firm has also reported a 25.0% year-to-date return on its BTC holdings in 2025, validating its accumulation strategy so far. Market sentiment remains cautiously optimistic, but questions linger over the lack of confirmation from large-scale holders.
All eyes are now on the upcoming STRC listing, which could shape broader investor appetite for crypto-tied equities. Combined with macro uncertainty and rising altcoin activity, the market appears poised for potential volatility as institutional and retail paths diverge once again.
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Source: https://coincu.com/news/strategy-acquires-21021-btc-post-ipo/