Michael Saylor Announces a Bold Plan for Strategy (formerly MicroStrategy) to Sell $21B Preferred Stock Issuance (STRK) for Bitcoin Buys and Corporate Operations

Michael Saylor announced a bold plan for Strategy (formerly MicroStrategy) to sell $21B preferred stock issuance (STRK) for Bitcoin buys and corporate operations.

Michael Saylor, the visionary behind Strategy (formerly MicroStrategy) (NASDAQ:MSTR), has announced an ambitious plan to sell $21 billion worth of preferred stock issuance (STRK) for the purpose of buying Bitcoin (BTC) and funding the company’s operations.

Saylor made the announcement via an X post on Friday, the 10th of March.

“Strategy announces $21 Billion $STRK At-The-Market program $MSTR,” Saylor stated.

The renowned pioneer in BTC corporate strategy has been instrumental in Strategy’s efforts to accumulate BTC through both stock issuance and debt, more specifically, convertible notes.

For stock issuance, Strategy mainly leverages its common MSTR and preferred STRK stocks to capitalize on new markets and fund BTC investment.

In essence, the firm could scoop up relatively discounted BTC following a recent retracement if the latest capital raise is achieved.

As of early March 2025, Strategy had amassed 499,096 BTC, which is valued at $40 billion at current prices and amounts to a 2.3% control of the total BTC supply.

Saylor’s BTC plan elicits mixed reactions

However, it's important to note that the BTC drawdown in Q1 2025 has slashed Strategy’s unrealized profit by 3x. At the peak of February, when BTC soared to $109K, Strategy’s unrealized profit nearly hit $20 billion.

At press time, the profit has shrunk to $7.2 billion, but the firm remains bullish for the long run.

Source: CryptoQuant

Pointing out the capacity of Strategy to raise such a massive amount with BTC’s muted price action, Peter Schiff had this to say:

“I don’t think you will be able to pull this off. Soon $MSTR will be trading at a discount to its Bitcoin holdings. That means selling these shares will produce a negative Bitcoin yield.”

Nonetheless, Jesse Myers, co-founder of OnRamp Bitcoin, claimed that STRK stock issuance could offer Strategy an efficient capital raising from the bond market.

“$21B could be just the start for this STRK "ATM program." Congrats to Saylor and Shirish Jajodia for creating an even more efficient vehicle for converting SoV capital into Bitcoin monetary energy.”

On the price performance front, MSTR had plummeted 56% to the last U.S. election level of $240, a trend observed across most U.S. equities.

Over the same period, BTC has slid about 30%, with analysts noting that it is a standard pullback for the cryptocurrency during bull runs.

Source: MSTR vs. BTC performance, TradingView

Meanwhile, BTC dipped below $80K but was above the level ahead of key U.S. economic data. It remains to be seen whether BTC will reverse Q1 losses and offer a relief recovery for MSTR.input:

Michael Saylor, the visionary behind Strategy (formerly MicroStrategy) (NASDAQ:MSTR), has announced an ambitious plan to sell $21 billion worth of preferred stock issuance (STRK) for the purpose of buying Bitcoin (BTC) and funding the company’s operations.

Saylor made the announcement via an X post on Friday, the 10th of March.

“Strategy announces $21 Billion $STRK At-The-Market program $MSTR,” Saylor stated.

The renowned pioneer in BTC corporate strategy has been instrumental in Strategy’s efforts to accumulate BTC through both stock issuance and debt, more specifically, convertible notes.

For stock issuance, Strategy mainly leverages its common MSTR and preferred STRK stocks to capitalize on new markets and fund BTC investment.

In essence, the firm could scoop up relatively discounted BTC following a recent retracement if the latest capital raise is achieved.

As of early March 2025, Strategy had amassed 499,096 BTC, which is valued at $40 billion at current prices and amounts to a 2.3% control of the total BTC supply.

Saylor’s BTC plan elicits mixed reactions

However, it's important to note that the BTC drawdown in Q1 2025 has slashed Strategy’s unrealized profit by 3x. At the peak of February, when BTC soared to $109K, Strategy’s unrealized profit nearly hit $20 billion.

At press time, the profit has shrunk to $7.2 billion, but the firm remains bullish for the long run.

Source: CryptoQuant

Pointing out the capacity of Strategy to raise such a massive amount with BTC’s muted price action, Peter Schiff had this to say:

“I don’t think you will be able to pull this