Strategy Inc., formerly MicroStrategy, is accelerating its Bitcoin acquisition strategy with an ambitious plan to raise over $80 billion in a single year. CEO Phong Le confirmed the company will utilize convertible bonds, equity offerings, and a new perpetual preferred stock ticker STRC to fund these purchases.
The capital-raising engine relies on selling shares when they trade at a premium to net asset value. This spread allows Strategy to increase Bitcoin holdings per share without diluting existing investors. The company also introduced STRC, offering an approximate 11.5% variable dividend to attract yield-seeking capital.
As of May 2026, Strategy holds over 818,000 BTC with a cost basis near $61.81 billion. However, the firm recently sold 32 BTC for roughly $2.5 million, marking its first liquidation since December 2022. Management stated sales occur only when stock trades below net asset value and other funding avenues are exhausted.
This pivot from business intelligence software to a pure-play Bitcoin treasury company carries distinct execution risks. The model depends entirely on maintaining a market premium. If Bitcoin enters a prolonged downturn, the capital flywheel stalls, forcing difficult balance sheet decisions as demonstrated by the recent sale.