Strategy, the company led by Michael Saylor, has unveiled a series of capital-raising programs totaling $44.1 billion, with proceeds earmarked for acquiring additional Bitcoin. The plans were disclosed in an 8-K filing submitted to the US Securities and Exchange Commission on Monday. The programs involve the sale of common shares as well as two of the company’s dividend-paying preferred equity instruments.
Under the new at-the-market programs, Strategy intends to raise as much as $21 billion through the sale of its common stock, traded under the ticker MSTR, and a further $21 billion via its high-yield perpetual preferred stock known as Stretch, listed as STRC. The company also plans to sell up to $2.1 billion worth of a separate perpetual preferred offering called Strike, ticker STRK. No specific timeline was provided for the issuances, with the filing stating that shares may be sold “from time to time.”
The at-the-market structure allows Strategy to sell shares incrementally into the open market, rather than relying on fewer, larger capital raises from outside investors, as it previously did through convertible debt. This approach gives the company greater flexibility in timing and scale when accessing capital. Strategy has positioned its various securities as vehicles for investors seeking exposure to Bitcoin without holding the asset directly.
The preferred stock offerings, including STRC and STRK, provide investors with monthly dividend payments while allowing Strategy to grow its Bitcoin treasury without diluting holders of its common shares. This structure has become a central part of the company’s financing strategy as it continues to accumulate Bitcoin at scale. Strategy has been actively marketing these instruments to a broad range of investors.
Strategy made its most recent Bitcoin purchase on Monday, acquiring 1,031 Bitcoin for approximately $76.6 million. This follows two notably large purchases earlier in the month: 17,994 Bitcoin on March 9 and 22,337 Bitcoin on March 16, which together cost around $2.9 billion. The company has added close to 90,000 Bitcoin to its treasury across the first three months of 2026.
Strategy now holds a total of 762,099 Bitcoin, valued at approximately $54 billion. Despite the scale of its holdings, the company is currently carrying an unrealized loss of 6.3% on its Bitcoin position, as Bitcoin remains down nearly 70% from its all-time high. The continued accumulation signals that Strategy remains committed to its Bitcoin-focused treasury strategy regardless of near-term price movements.
Originally reported by CoinTelegraph.
