Michael Saylor’s Strategy, the largest corporate holder of Bitcoin, has unveiled plans to raise to $21 billion in fresh capital as part of its continued aggressive Bitcoin accumulation strategy. On March 10, the firm announced a new sales agreement allowing it to issue and sell shares of its 8% Series A perpetual preferred stock, aiming to generate funds for corporate expansion, working capital, and further Bitcoin acquisitions.
As part of the fundraising deal—referred to as the “ATM Program”—Strategy intends to execute stock sales gradually and strategically, factoring in market conditions, trading prices, and volume fluctuations to maximize returns while securing additional BTC.
“Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of bitcoin and for working capital,” the firm stated in an SEC filing detailing the plan.
Unlike traditional capital raises that inject funds into a company all at once, ATM (At-The-Market) programs allow firms to sell stock periodically based on market performance. This method gives Strategy flexibility to raise capital without flooding the market with new shares in a single instance.
Strategy’s Bitcoin Stash Grows as Firm Pushes Expansion Plan
Strategy’s latest funding announcement comes as the company holds 499,096 BTC, currently valued at $41.2 billion. The firm acquired its Bitcoin reserves at an aggregate cost of $33.1 billion, averaging $66,423 per BTC—a position that continues to grow as part of its aggressive accumulation strategy.
The company has already been steadily executing its “21/21 Plan”, a three-year roadmap to raise $21 billion in equity and $21 billion in fixed-income securities to further expand its BTC holdings.
Since the start of 2025, Strategy has been on a buying spree, completing six major Bitcoin purchases. Between January 13 and now, the company has accumulated 52,696 BTC, reinforcing its status as the largest corporate holder of Bitcoin.
With Bitcoin currently trading at $82,972, Strategy’s BTC yield for the year stands at 6.9%, demonstrating the profitability of its long-term Bitcoin-centric strategy.
Strategy’s Playbook Paves the Way for Institutional Adoption
Once known as MicroStrategy, the company now called Strategy has evolved into one of the most influential corporate players in the cryptocurrency industry. Its pivot to Bitcoin began in August 2020 when it adopted BTC as its primary treasury asset, a move that later inspired major institutional players like Tesla and Japan’s Metaplanet to follow suit.
Strategy’s aggressive Bitcoin acquisitions have cemented its role as a trailblazer in corporate BTC adoption, influencing traditional finance firms to reconsider their treasury management strategies.
Michael Saylor, Strategy’s co-founder and CEO, has emerged as one of the most vocal Bitcoin advocates and a key figure in shaping U.S. crypto policy. As one of the attendees of the recent Whitehouse Crypto Summit, he pushed for the expansion of the U.S. Strategic Bitcoin Reserve, urging the government to increase its holdings from 200,000 BTC to 525,000 BTC—a figure that would represent 25% of Bitcoin’s total supply.
Quick Facts:
- MicroStrategy plans to raise up to $21 billion through an ATM program to fund additional Bitcoin purchases.
- The company currently holds approximately 499,096 BTC, valued at around $41.2 billion.
- This initiative is part of a broader strategy to secure $42 billion over three years, divided equally between equity and fixed-income securities.
