MicroStrategy (MSTR) has expanded its preferred stock offering from an initially planned $500 million to $2 billion to fund additional Bitcoin purchases, according to Bloomberg reports. The Series A Perpetual Stretch preferred shares were priced at $90 each on July 24, carrying an initial dividend rate of 9%.
The offering, underwritten by Morgan Stanley, Barclays, TD Securities, and Moelis & Co., includes 5 million shares. This capital raise amplifies MicroStrategy's capacity to buy Bitcoin amid a sustained rally, with BTC trading near $118,000 at the time of the announcement. The company's common stock (MSTR) remained stable at ~$413 but has surged 146% over the past year, outperforming the S&P 500's 17% gain.
MicroStrategy holds 607,000 BTC—66% of all Bitcoin owned by public companies—and its strategy has spurred broader corporate adoption. Japanese AI firm Quantum Solutions recently announced plans to acquire 3,000 BTC, while miners like Marathon Digital (MARA) now rank among the top corporate holders.