Strategy Sees $14B Q2 Bitcoin Profit, Launches $4.2B STRD Preferred Stock Offering
Bitcoin surged nearly 30% in the second quarter, climbing from around $82,000 to $108,000 by June 30.
As a result, Michael Saylor’s Strategy (MSTR) expects to report a $14.05 billion gain on its bitcoin holdings, which exceed 500,000 BTC.
In a filing on Monday, Strategy revealed it raised $6.8 billion in net proceeds during the quarter through various capital markets activities, including preferred stock offerings and at-the-market (ATM) sales of its Class A common shares. As of June 30, the company retained considerable capacity for further fundraising, with $18.1 billion left under its 2025 Common ATM, $20.5 billion under the STRK ATM, and $1.9 billion under the STRF ATM.
Later the same day, Strategy announced it had entered into a sales agreement to issue and sell up to $4.2 billion of its 10% Series A Perpetual Stride Preferred Stock (STRD) via an ATM program.
Strategy intends to sell STRD shares gradually, depending on market conditions and trading volumes. Proceeds from the offering will be used for general corporate purposes, including further bitcoin acquisitions, supporting working capital, and potentially paying dividends to holders of both its 10% STRD and 8.00% Series A Perpetual Strike Preferred Stock.
Since launching on June 11, STRD shares have climbed 6%. Meanwhile, MSTR shares slipped 1.2% in premarket trading Monday, as bitcoin edged slightly lower from late last week, trading around $108,300.
