Strategy $44B Equity Plan to Fund More BTC via STRC and MSTR

Strategy announced a $44B equity plan to fund future Bitcoin purchases. The firm will raise $44B through common and preferred share issuance, with STRC (its variable-rate preferred) making up nearly half. Strategy also said it could issue an additional $21B of common stock tied to MSTR, plus $21B of STRC and $2.1B of STRK (convertible preferred). Earlier, Strategy completed its fifth-largest BTC purchase by buying 22,337 BTC and leaned more heavily on STRC than on its ordinary-share ATM program. STRC carries an 11.5% dividend, lifting annual dividend obligations substantially (more than $1B total indicated across the earlier reporting). The company said it has set aside about $2.25B in cash reserves to service these dividend payments. In the latest update, Strategy bought 1,031 BTC for $76.6M—the smallest purchase in about a month—after STRC traded below its $100 par-value level for several consecutive sessions. Strategy previously suggested that once STRC can maintain that $100 trigger, it would support further STRC issuance to finance BTC buys. Its holdings rose to 762,099 BTC, implying a large unrealized loss based on its average acquisition price. For traders, the core takeaway is that the Strategy Bitcoin buy plan expands the funding runway, but the near-term BTC accumulation pace appears constrained while STRC remains under the $100 threshold.