Strategy files to raise up to $44B via ongoing share sales to fund Bitcoin purchases

Strategy on Monday filed to increase its capital-raising capacity across three at-the-market programs, including up to $21 billion in common stock sales, up to $21 billion in Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), and up to $2.1 billion in 8% Series A Perpetual Strike Preferred Stock (STRK).

The company said proceeds may be used for Bitcoin purchases and corporate needs, continuing its approach of using equity issuance as a primary funding mechanism for its digital asset strategy.

The company’s stated goal is to accumulate one million Bitcoin by the end of this year.

Bitcoin holdings and the path to one million

The company currently holds 762,099 Bitcoin, valued at around $53 billion, or about 3.6% of Bitcoin’s total circulating supply.

Reaching the one-million-coin target by December would require acquiring an additional 237,901 coins over approximately nine months.

Strategy’s common stock traded at $139 at press time, giving the company a market capitalization of approximately $47 billion, per Yahoo Finance.

How the at-the-market structure works

The at-the-market structure lets the company sell shares incrementally into daily trading volume rather than through conventional underwritten offerings.

In 2025, Strategy raised $25.3 billion through equity issuances, making it the largest equity issuer among all US publicly traded companies for the second consecutive year.