Strategy raised $3.3 billion [2] in April 2026 through the issuance of perpetual preferred stock to fund large-scale Bitcoin purchases.
This move represents a significant escalation in the company's leverage strategy, using high-yield equity instruments to acquire volatile digital assets. By issuing stock with a high dividend, the company creates a funding mechanism to increase its holdings without relying solely on traditional debt or common equity dilution.
Michael Saylor, the executive chairman of Strategy, utilized the perpetual preferred stock, traded under the ticker STRC [1]. The offering carries an 11.5% dividend yield [2]. This specific financial structure allows the Nasdaq-listed U.S. company to attract investors seeking high income while the firm focuses on the long-term appreciation of Bitcoin [1, 2].
The capital raised in April [2] serves as "jet fuel" for the company's buying program. Strategy has maintained an aggressive acquisition pace, with the average purchase cost per Bitcoin for the company sitting at $76,037 [3].
Market volatility has provided specific entry points for the firm. The company's buying activity has coincided with price fluctuations, including a referenced dip where Bitcoin traded around $75,500 [3]. By leveraging the $3.3 billion [2] from the STRC offering, Saylor has effectively converted investor yield requirements into a vehicle for cryptocurrency accumulation.
This strategy relies on the premise that the growth of Bitcoin will outpace the 11.5% [2] cost of the preferred dividends. Because the stock is perpetual, the company avoids a fixed maturity date, though it must continue to service the dividend payments to the shareholders of STRC [1].
“Strategy raised $3.3 billion in April 2026 through the issuance of perpetual preferred stock.”
Strategy is shifting from simple debt-funded acquisitions to using complex equity instruments to finance its Bitcoin treasury. By issuing perpetual preferred stock, the company is essentially creating a synthetic loan where the 'interest' is a dividend. This allows the firm to aggressively accumulate Bitcoin during price dips, but it creates a permanent high-cost obligation that requires the underlying asset to appreciate significantly to justify the 11.5% yield.
