TL;DR
- Strategy launched its third Bitcoin-backed preferred stock, STRD, on Nasdaq to raise capital secured directly by BTC.
- The offering increased to nearly $1 billion, aimed at boosting its Bitcoin reserves, which already total 582,000 BTC valued at around $64 billion.
- Max Keiser called Strategy the current ‘Iron Bank,’ highlighting its approach of buying Bitcoin with cheap dollars to benefit from inflation and distorted interest rates.
Strategy, the company led by Michael Saylor, completed the launch of its STRD asset on Nasdaq this Wednesday. This is the third preferred stock in its series backed by Bitcoin, designed to attract capital focused on fixed income through a direct BTC guarantee.
The placement follows an increase in the planned amount, rising from $250 million to nearly $1 billion in less than a week. The goal is to use these funds for additional Bitcoin purchases.
Approaching 600,000 BTC
Strategy has been steadily accumulating Bitcoin for four years. This policy transformed the company into an entity valued at $100 billion and boosted its stock price by 26% so far in 2025. Thanks to this performance, it outpaced tech giants like Tesla, Microsoft, Meta, and Amazon, as well as Bitcoin itself during the same period.
Last Monday, Strategy added another $110 million worth of Bitcoin to its balance, bringing the total to 582,000 BTC. This holding, valued at about $64 billion, puts the company less than 20,000 BTC away from reaching 600,000 units in reserve. Its accumulation pace has allowed it to remain the largest corporate holder of Bitcoin worldwide.
Strategy: ‘Iron Bank’
The announcement gained support from influential figures in the crypto industry. Max Keiser, Bitcoin advisor to the government of El Salvador, called Strategy the ‘Iron Bank’ of today’s economy. He also suggested that Saylor plays a key role in the shift toward a financial system dominated by Bitcoin as a global store of value.
Keiser pointed out that, in an environment of sustained inflation and interest rates distorted by programs like QE and YCC, using cheap dollars to buy Bitcoin offers, in his view, a mathematical edge over other assets. He believes Strategy aggressively leverages this scenario, solidifying its position for an eventual market adjustment toward a Bitcoin-based standard.
The launch of STRD on Nasdaq represents a new plan for Strategy to finance its BTC acquisitions without selling assets. At the same time, it provides institutional investors with indirect Bitcoin exposure backed by tangible assets and priority claims
