Strategy Eyes $4.2B War Chest After $10B Profit, Could It Double Down on Bitcoin Again?

Key Takeaways:

• Strategy reports a record-breaking $10 billion Q2 profit, fueled by Bitcoin price surge.
• The company boosted BTC holdings to 597,000, now controlling 3% of Bitcoin’s total supply.
• Plans to raise $4.2 billion through perpetual preferred shares for further BTC accumulation.

Strategy, the firm that pioneered corporate Bitcoin treasury strategies, has reaffirmed its crypto-first playbook with explosive earnings and fresh fundraising. The Bitcoin-centric company, formerly known as MicroStrategy is once again doubling down on its BTC bet, leveraging preferred stock to expand one of the largest corporate crypto portfolios on earth.

Read More: Strategy’s $2.5B Crypto Play: Secret Stock Move Fuels One of Largest Bitcoin Grabs Yet

Strategy’s Q2 Profits Skyrocket as BTC Prices Rebound

Strategy’s second quarter saw a dramatic turnaround from Q1’s $5.9 billion loss. Riding the wave of Bitcoin’s resurgence—rising from lows of $77,000 to over $111,000, the firm locked in $10 billion in profit, fueled by the appreciation of its BTC holdings.

3% of Global Bitcoin Supply Now Controlled

With 597,000 BTC as of the end of Q2, Strategy now holds approximately 3% of Bitcoin’s circulating supply, according to the video posted on X by Strategy about Strategy Q2 Earnings. That places it far ahead of any other publicly traded company in the crypto space, including BlackRock, Tesla, and Coinbase.

In Q2 alone, the company added nearly 100,000 BTC, reflecting a 20% increase in its holdings from the prior quarter. Since it began purchasing Bitcoin in 2020, Strategy has accumulated over 628,800 BTC in total though some were used for operational liquidity or sold strategically.

Read More: Strategy Reports $5.8B Bitcoin Gain in Q1 2025, Doubles Investment Plan to $84B

$4.2 Billion Capital Raise via STRC Shares

To further expand its BTC holdings, Strategy has announced plans to raise $4.2 billion through the issuance of STRC perpetual preferred stock. This comes on the heels of a similar $2.5 billion raise used to acquire 21,000 BTC in recent weeks.

The Role of Perpetual Preferred Stock in Strategy’s BTC Strategy

The STRC offering is part of a larger fundraising model that allows Strategy to issue non-voting, dividend-paying shares that fund Bitcoin purchases without diluting its common stock. This method enables the company to leverage premium valuations on the stock market where its shares often trade at multiples to its BTC NAV.

Michael Saylor, Executive Chairman and…