Strategy Buys 24,869 BTC for About $2B, Lifting Total Bitcoin Holdings to 843,738

Strategy has funded its largest Bitcoin purchase in roughly a month by issuing preferred stock, buying 24,869 BTC for about $2 billion as demand surged for its dividend-focused product. Funding details centered on Stretch (STRC), a preferred share offering that currently pays an 11.5% annual dividend. Investors had until last Friday to purchase STRC and qualify for the next monthly cash distribution. With STRC trading near its $100 par value ahead of the ex-dividend date, Strategy issued nearly $2 billion in preferred shares and directed the proceeds into Bitcoin acquisitions. The purchase increases Strategy's total Bitcoin holdings to 843,738 BTC, which the company has recently valued at $64.4 billion. The scale matches the firm's previous major buy about a month ago, which followed a roughly $2.2 billion STRC raise. STRC is designed to trade close to its $100 par value; when it trades above par, Strategy can add to its treasury by issuing additional shares. The company is also seeking to move STRC dividends from monthly to bimonthly. In the lead-up to the ex-dividend date, STRC hovered around $100 for five straight days as issuance increased. On Monday, STRC was priced at $99.29 after falling as low as $99.02 in the prior session. In broader market trading, Strategy's common stock recently changed hands at $163.58, described in the report as down more than 7%, though still up nearly 2% over the past month—outpacing Bitcoin's 0.4% gain over the same period. Bitcoin was trading around $76,361, down more than 2% over the past day, after reaching about $82,500 earlier this month—its highest level since February's declines. CEO Phong Lee pointed to treasury performance, citing a year-to-date "BTC Gain" of $6.6 billion. Strategy uses this metric to reflect net additional Bitcoin accumulated after accounting for dilution from new share issuance. For fiscal 2025, the company reported a BTC Gain of 101,873 BTC, recently valued at $7.8 billion. Lee also wrote on X that "Digital credit is helping us deliver faster growth in 2026 than in 2025." The latest transaction highlights Strategy's increasing reliance on STRC's dividend structure and yield demand to finance large Bitcoin purchases—an approach that has faced scrutiny in volatile markets but has become a recurring element of the company's treasury strategy.