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Key Takeaways:
- Strategy used $2.46B from STRC IPO proceeds to buy 21,021 BTC.
- STRC is 2024’s largest U.S. IPO and the biggest crypto stock offering in years.
- Strategy’s BTC holdings now exceed 628,000 BTC worth $46.8B.
Strategy, formerly known as MicroStrategy, has executed its largest Bitcoin purchase of 2024, acquiring 21,021 BTC for approximately $2.46 billion. The acquisition follows the successful completion of its STRC IPO, which raised around $2.521 billion in gross proceeds. After deductions, $2.474 billion was used for the purchase at an average price of $117,256 per Bitcoin.
This transaction brings Strategy’s total BTC holdings to 628,791—acquired at an average of $73,227—valued at over $46.8 billion, further solidifying its position as the world’s largest public Bitcoin treasury.
STRC IPO Breaks Records in 2024
The STRC IPO is now the largest U.S. public offering of 2024 and the biggest crypto-related listing in years. It also represents the largest perpetual preferred stock issuance since 2009. Trading under the ticker STRC, the stock is expected to debut on Nasdaq on or around July 30.
This IPO follows Strategy’s other successful offerings—STRK, STRF, and STRD—which collectively raised over $2.3 billion earlier this year. STRC will become the first U.S.-exchange-listed perpetual preferred security backed by Bitcoin to pay monthly dividends, marking a key innovation in digital asset financial instruments.
Institutional Demand Drives Bitcoin Strategy
Strategy’s aggressive accumulation and new financial instruments show growing institutional demand for Bitcoin-backed exposure. Despite announcing no BTC purchases during the prior week (July 21–27), this strategic move reaffirms CEO Michael Saylor’s conviction in Bitcoin as a primary treasury asset.
Also Read: PowerBank’s 3.79 MW Geddes Solar Project Goes Live, Powering New Bitcoin Treasury Strategy
YTD, the company has realized a 25% yield on its BTC holdings. With STRC offering both fixed income potential and crypto exposure, Strategy is reshaping how traditional markets access Bitcoin.
Strategy’s record-breaking STRC IPO and resulting $2.46B Bitcoin purchase not only reinforce its dominance in BTC accumulation but also reflect accelerating institutional appetite for crypto-structured products. While MSTR stock dipped over 2% today, Strategy’s long-term bet on Bitcoin continues to set new precedents.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
