{"id":3511,"date":"2025-05-22T17:16:11","date_gmt":"2025-05-22T17:16:11","guid":{"rendered":"https:\/\/digkrypton.com\/index.php\/2025\/05\/22\/michael-saylors-strategy-mstr-opens-2-1b-atm-program-for-strife-preferred-stock\/"},"modified":"2025-05-22T17:16:11","modified_gmt":"2025-05-22T17:16:11","slug":"michael-saylors-strategy-mstr-opens-2-1b-atm-program-for-strife-preferred-stock","status":"publish","type":"post","link":"https:\/\/digkrypton.com\/index.php\/2025\/05\/22\/michael-saylors-strategy-mstr-opens-2-1b-atm-program-for-strife-preferred-stock\/","title":{"rendered":"Michael Saylor\u2019s Strategy (MSTR) Opens $2.1B ATM Program for Strife Preferred Stock\u00a0"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Michael Saylor\u2019s Strategy (MSTR) Opens $2.1B ATM Program for Strife Preferred Stock\u00a0<\/a><\/p>\n

<\/div>\n

Strategy<\/a> has launched a $2.1 billion At-The-Market (ATM) equity program for its Strife (STRF) preferred stock, marking another step in the firm\u2019s long-term strategy to build a Bitcoin<\/a>-backed financial architecture.<\/p>\n

The announcement was made by CEO and President Phong Lee during an investor update alongside Executive Chairman Michael Saylor<\/a>. According to Lee, strong year-to-date results from the firm\u2019s Bitcoin-linked securities Strike (STRK) and Strife (STRF) gave Strategy the confidence to expand its fundraising strategy.\u00a0<\/p>\n

\n

BREAKING: Strategy to sell up to $2.1 billion of 10% preferred stock.pic.twitter.com\/xufD8uv64v<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) May 22, 2025<\/a>\n<\/p><\/div>\n

\u201cWe\u2019re currently at 16.3% BTC yield for the year, against a 25% target,\u201d Lee said. \u201cBTC dollar gain is $7.7 billion so far, on track toward our $15 billion target.\u201d<\/p>\n

Both instruments have outperformed expectations since launch. Strike is up 24% from its initial price of $80 to nearly $100. Strife, which was priced at $85 just two months ago, now trades around $98.80, a 16% increase. By comparison, similarly structured preferreds in the market have declined by 3\u20135% over the same period.\u00a0<\/p>\n

In the last 30 days alone, Strike rose 17% and Strife 12%, bringing both close to par value. Lee emphasized the liquidity profile of these instruments, citing average daily trading volumes of $31 million for Strike and $23 million for Strife. \u201cThat\u2019s 60x what we typically see in comparable preferreds,\u201d he noted.\u00a0<\/p>\n

The company previously issued $212 million through Strike\u2019s ATM, with no adverse pricing pressure. Based on the trading volume and investor demand, Lee said the company believes the $2.1 billion Strife ATM can be executed in a similar fashion.<\/p>\n

Strife is a perpetual preferred stock with a 10% coupon and sits at the top of Strategy\u2019s capital stack. Saylor described it as \u201cthe crown jewel\u201d of the company\u2019s preferred offerings. \u201cWe\u2019re going to be ten times as careful with Strife,\u201d he said. \u201cOur goal is for it to be seen as investment-grade fixed income \u2014 a high-quality instrument with robust protections.\u201d<\/p>\n

Strike, by contrast, is positioned for what Saylor called \u201cBitcoin-curious\u201d investors. It carries an 8% coupon and includes upside through Bitcoin conversion. \u201cThink of it like a Bitcoin fellowship with a stipend,\u201d Saylor said.\u00a0<\/p>\n

Strategy now operates three ATM programs: $21 billion each for MSTR equity and Strike, and $2.1 billion for Strife. These are rebalanced daily, with issuance adjusted based on market conditions, volatility, and investor demand. According to Saylor, this dynamic structure allows the company to optimize Bitcoin acquisition and capital deployment across changing market environments.<\/p>\n

Behind this strategy sits Strategy\u2019s Bitcoin treasury<\/a>, now totaling 576,230 BTC \u2014 roughly $60 billion in value. \u201cThat permanent capital is the foundation for everything we\u2019re building,\u201d Saylor said.<\/p>\n

While spot Bitcoin ETFs<\/a> cater to investors looking for direct price exposure, Strategy continues to offer a more nuanced set of instruments \u2014 each targeting different levels of risk, return, and compliance. The Strife ATM is the latest move in that broader strategy.<\/p>\n

This post Michael Saylor\u2019s Strategy (MSTR) Opens $2.1B ATM Program for Strife Preferred Stock\u00a0<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Jenna Montgomery<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Michael Saylor\u2019s Strategy (MSTR) Opens $2.1B ATM Program for Strife Preferred Stock\u00a0 Strategy has launched a $2.1 billion At-The-Market (ATM) equity program for its Strife (STRF) preferred stock, marking another step in the firm\u2019s long-term strategy to build a Bitcoin-backed financial architecture. The announcement was made by CEO and President Phong Lee during […]<\/p>\n","protected":false},"author":0,"featured_media":3512,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3511","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=3511"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/3512"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=3511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=3511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=3511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}