Michael Saylor's Strategy is using every tool at its disposal to pool funds to build on its mammoth Bitcoin stockpile.

As the week began, on March 18, Strategy announced the launch of STRF ("Strife"), a new perpetual preferred stock offering, open to institutional and select noninstitutional investors.

MicroStrategy (NASDAQ:COIN) is using every tool at its disposal to pool funds to build on its mammoth Bitcoin stockpile.

Beginning the week, on Monday, March 18, the company announced the launch of STRF ("Strife"), a new perpetual preferred stock offering, open to institutional and select noninstitutional investors. The most recent series of preferred stock differs from the original STRK in that it has a higher coupon (10% vs. 8%) and no common share conversion clause.

The company stated that the net proceeds from the offering will be used for general corporate purposes, including Bitcoin acquisition and working capital.

Fast forward to Friday, and MicroStrategy announced the pricing of the Strife Perpetual Preferred Stock (STRF) offering, upsizing the deal from $500 million to $722.5 million. In its initial sale, MicroStrategy sold 8.5 million shares of its Series A Perpetual Strife Preferred Stock for $85 apiece, raising about $711.2 million; it had originally planned to raise $500 million.

At last check, the company owned more than 499,200 Bitcoin, so the anticipated next round of Bitcoin purchases might push the MicroStrategy stash to 500,000 BTC.

Everyone wants a winning strategy

MicroStrategy cofounder and chairman Michael Saylor took to X on Friday to announce the company's latest move aimed at acquiring more Bitcoin: the raising of $722.5 million through the sale of Perpetual Strife Preferred Stock.

Announcing a new preferred offering. We are selling 8.5M shares of Series A Perpetual Strife Preferred Stock at $85 per share to institutional investors for total proceeds of $711.25M.

— Michael Saylor (@michael_saylor) March 23, 2024

In his next tweet, Saylor wrote that "everyone wants a winning strategy," which might explain Microstrategy's Bitcoin acquisition push.

Everyone wants a winning strategy. https://t.co/8q4yM8qm8Z

— Michael Saylor (@michael_saylor) March 23, 2024

Under Saylor’s leadership, MicroStrategy has established itself as one of the largest institutional holders of Bitcoin. The enterprise-software-company-turned-leveraged-Bitcoin-proxy has been buying Bitcoin since late October, with current holdings valued at over $42 billion.

MicroStrategy has set out plans to raise $42 billion over the next few years by selling securities to acquire Bitcoin, with a growing emphasis on its capacity to offer fixed-income assets.

At press time, Bitcoin was valued at $84,386.