In a feat of financial audacity that rivals even the most daring of mountaineers—though perhaps more naively—the illustrious firm helmed by Michaels (or Saylor, or perhaps some amalgamation of both) is once again turning heads. Freshly flush after scooping up over $2.5 billion in cash, they’ve decided that’s just not enough—a mere appetizer, if you will—so they officially filed with the SEC to gather another $4.2 billion. Because who doesn’t want more crypto, right?
This audacious move involves a new offering via big players—Morgan Stanley, Barclays, TD Securities—because apparently, what’s a little more money amongst friends? The shares, which are part of some gloriously convoluted series of stock titles (Variable Rate Series A Perpetual Stretch Preferred Stock), are listed on Nasdaq and are trading around the modest sum of $94.50. The precise timing? As elusive as the fountain of youth.
All taken together, the grand plan is to use this newfound treasure chest for ‘general corporate purposes’—which is corporate-speak for ‘more bitcoin, because why not?’ Earlier this week, the firm spent almost every cent of its previous gold rush to buy a staggering 21,021 BTC, swelling its coffers to a staggering 628,791 BTC—worth a staggering $46.8 billion, at an average cost of $73,227 per coin. A bargain, surely.
And how’s this so-called strategy paying off? Well, they raked in a cool $14 billion in Q2 alone—thanks to the magic of unrealized gains and fair value adjustments on their beloved Bitcoin stash. CEO Phong Le (a name that sounds more like a tech startup than a financial wizard) bragged that their capital gambit has boosted the Bitcoin per share (BPS) by over 25% this year. Cheers to that!
Their portfolio of offerings—STRK, STRF, STRD, and now STRC—has amassed over $10 billion in total funds. With investors seemingly hooked on Bitcoin-backed assets, the firm has boldly increased its annual goals to a 30% BTC yield and a $20 billion windfall from Bitcoin gains. Because, in the end, who doesn’t want to turn crypto speculation into a billion-dollar certainty?
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2025-08-01 04:13