Strategy Inc., one of the most prominent corporate bitcoin treasury players, has expanded both its digital asset holdings and its fundraising ambitions. After purchasing an additional 1,031 BTC, the company said its total bitcoin reserves have reached 762,099 BTC. At the same time, it disclosed two new at-the-market, or ATM, equity programs with a combined size of $42 billion.
$42 billion split between MSTR and STRC offerings
The new capital plan includes a $21 billion ATM offering for its Class A common stock, traded on Nasdaq under the ticker MSTR. Strategy also introduced a separate $21 billion ATM program tied to its Series A Variable Rate Perpetual Stretch Preferred Stock, commonly referred to as STRC. Together, the two programs create a large financing vehicle that can be tapped over time.
To support the effort, the company added Moelis & Company, A.G.P./Alliance Global Partners, and StoneX Financial to its list of sales agents. Strategy also reshaped part of its preferred equity structure by ending its prior STRK offering and reducing the number of authorized STRK shares, while sharply increasing authorized STRC shares to support the new issuance framework.
Bitcoin accumulation remains central
Alongside the fundraising disclosure, Strategy said it acquired the latest 1,031 BTC for $76.6 million, reinforcing its long-running accumulation strategy. By relying on an automatic shelf registration statement, the company can sell securities into the market gradually when conditions are favorable, giving it flexibility to continue funding its balance-sheet approach.
Reaction to the strategy remains mixed. Supporters see the model as a direct extension of Strategy’s bitcoin-centric treasury identity, while critics argue that repeated capital raises may increase dilution concerns and raise questions about the long-term sustainability of the company’s broader financial model. Based on the latest filing, however, Strategy appears committed to pairing capital markets fundraising with continued bitcoin accumulation.