MicroStrategy Successor “StrategyB” Seeks $4.2B to Expand Bitcoin Holdings

• StrategyB plans to raise $4.2B through STRC stock to fund further Bitcoin purchases.
• The firm increased its BTC holdings to 628,800, totaling 3% of Bitcoin’s circulating supply.
• STRC shares are Nasdaq-listed with $100 liquidation preference and $94.50 market price.

StrategyB, the successor to MicroStrategy, has filed a proposal supplement for a $4.2 billion preferred stock offering, confirming its continued focus on Bitcoin accumulation. The company, led by Michael Saylor, disclosed the move in a July 31, 2025, filing with the U.S. Securities and Exchange Commission (SEC), outlining the terms of its new Variable Rate Series A Perpetual Stretch Preferred Stock, listed under the ticker “STRC” on the Nasdaq Global Select Market.

According to the filing, StrategyB entered into a Sales Agreement with five financial firms, TD Securities (USA) LLC, Barclays Capital Inc., The Benchmark Company, LLC, Clear Street LLC, and Morgan Stanley & Co. LLC.

These firms will act as agents in facilitating the sale of STRC Stock. The agreement permits StrategyB to offer shares totaling up to $4.2 billion. Sales may occur through various legal means, including at-the-market offerings, block trades, or negotiated transactions, under Rule 415(a)(4) of the Securities Act of 1933.

The agents involved are not bound to sell a fixed number of shares. Instead, they will operate under standard trading conditions agreed upon with StrategyB. For their role, agents may receive up to 2% of gross proceeds as compensation, which may also be classified as underwriting commissions per securities regulations.

Nasdaq Listing and Share Terms

STRC Stock is actively traded on the Nasdaq Global Select Market. As of July 30, 2025, the last reported sale price per share stood at $94.50. The stock carries an initial liquidation preference of $100 per share, which may be adjusted downward as specified in the base prospectus issued on January 27, 2025.

The current offering supplements the 28,011,111 STRC shares that were outstanding at the time of filing. Beginning August 15, 2025, the first dividend record date, any future issuances of STRC Stock under this offering will share the same CUSIP number and will be fully fungible with existing shares.

StrategyB has made it clear that proceeds from this stock issuance will be directed entirely toward Bitcoin purchases. The company expanded its Bitcoin holdings significantly in the previous quarter, increasing its total from 499,000 to 628,800 BTC. According to firm disclosures, this increase equates to approximately 3% of the total circulating Bitcoin supply.