Strategy Closes Record-Breaking $2.5B STRC IPO, Buys 21K More Bitcoins in Bold Treasury Play

Strategy just made Wall Street history. The self-declared Bitcoin Treasury Company has closed the largest U.S. IPO of the year, raising a staggering $2.521 billion through the launch of its new STRC shares — Variable Rate Series A Perpetual Stretch Preferred Stock. Priced at $90 per share, the 28-million-share offering is not just a crypto flex — it’s a financial power move that fuses old-school capital markets with digital gold.

STRC is slated to debut on the Nasdaq Global Select Market around July 30 under the ticker “STRC”, adding yet another Bitcoin-adjacent asset to Strategy’s expanding arsenal of equity tickers. But this isn’t just about ticker sprawl — it’s about rewriting the playbook on corporate finance in the age of Bitcoin maximalism.

After fees, Strategy walks away with $2.474 billion in net proceeds, which it’s already put to work — scooping up 21,021 additional bitcoins at an average price of $117,256 per BTC. This latest haul boosts the firm’s total stash to 628,791 BTC, now worth nearly $47 billion. For those keeping score, that’s an average acquisition price of $73,227 per coin, including fees. 

Strategy announced the huge Bitcoin buy on X

But STRC isn’t just another crypto-fueled headline — it’s a structural innovation in capital markets. This is the first U.S. exchange-listed perpetual preferred stock from a Bitcoin-centric firm — and it pays monthly dividends. Even more novel, those dividend rates are determined by Strategy’s board, making it a sort of active-income vehicle with a short-duration mindset. That’s a rare hybrid in the market: crypto-aligned, income-focused, and equity-structured — designed to attract yield-hungry investors who might not touch Bitcoin directly but want to ride its upside.

It’s the largest perpetual preferred stock offering listed on a U.S. exchange since 2009. The first of its kind. A security class that didn’t really exist before Strategy decided to mash together the traditions of Wall Street with the conviction of Satoshi disciples.

This is how a Bitcoin company turns itself into a monetary black hole — absorbing fiat, spitting out dividends, and stacking sats like it’s a national mission. For Strategy, the balance sheet isn’t just an accounting tool — it’s a Bitcoin time machine.

Stay tuned for the STRD, STRF, STRK tickers to start behaving like crypto-native fixed income. And don’t be surprised if other public companies try to copy the template. Strategy isn’t just betting on Bitcoin — it’s betting that financial engineering is the bridge to mainstream crypto exposure. If you don’t yet have exposure to Bitcoin, it might be time to buy some, with this level of capital looking for Bitcoin, price discovery is only a matter of time.