Strategy seeks US$42 billion to accelerate Bitcoin buying

Published Tue, Mar 24, 2026 · 07:32 AM

[NEW YORK] Michael Saylor’s Strategy is accelerating its Bitcoin accumulation plan, outlining a US$42 billion capital raise that would deepen its all-in wager on the cryptocurrency.

The company plans to sell US$21 billion in Class A common stock and US$21 billion in perpetual preferred shares by steadily offering them on the open market, according to a regulatory filing on Monday (Mar 23). Strategy has said that it wants to rely more on its “Stretch” preferred shares to fund purchases, a shift that spares existing stockholders from dilution but saddles the company with fresh payout obligations.

The company also disclosed that it purchased 1,031 Bitcoin between Mar 16 and Mar 22, worth roughly US$76.5 million. The latest purchase was fully financed through proceeds from the sale of its common stock, marking a shift back to the funding source after the company had leaned on preferred shares the prior week.

The choice of funding instrument matters because each one impacts a different group of investors. When Strategy sells common stock to buy Bitcoin, existing shareholders’ ownership stake gets smaller.

When it issues preferred shares instead, it avoids that dilution but takes on a fixed obligation – essentially borrowing at an elevated 11.5 per cent rate to buy a volatile asset that is currently trading below its cost basis. Saylor has been rotating between the two depending on market conditions and how much pain each investor class can absorb.

Strategy now holds more than 762,000 Bitcoin, valued at roughly US$54 billion. Its average purchase price is about US$75,700, above Bitcoin’s current trading level near US$70,000. The company’s shares – widely seen as a proxy for Bitcoin and often moving in tandem with the cryptocurrency – are up about 5 per cent this month. BLOOMBERG