Michael Saylor repeats his Bitcoin buying spree following $2.5 billion fundraise

MicroStrategy, a leading American business intelligence firm, continues to make waves in the digital asset space. The company's long-term vision positions it as the institutional benchmark for Bitcoin adoption, serving as a case study on how traditional finance can adapt to efficiently, regulated, and scalable incorporate digital assets.

The financial analysis firm, TD Cowen, has reaffirmed its "buy" rating for MicroStrategy's shares and raised its price target to $680. TD Cowen analysts noted that MicroStrategy acts as a funnel for institutional capital flows towards Bitcoin.

In a significant move, MicroStrategy, led by Michael Saylor, acquired 21,021 BTC for approximately $2.46 billion. The acquisition was financed through the public offering of STRC preferred shares, which raised $2.5 billion. The average price per BTC in this transaction was an impressive $117,256.

This move has catapulted MicroStrategy's Bitcoin treasury to a staggering 628,791 BTC, making it the public entity with the highest Bitcoin exposure worldwide.

MicroStrategy's investment strategy combines traditional instruments with crypto exposure, creating a financial architecture for channeling institutional capital directly to Bitcoin. The company's Bitcoin accumulation policy has been maintained, with TD Cowen anticipating sustained treasury expansion without dilution for MicroStrategy.

Strategy's Bitcoin accumulation helps consolidate the image of Bitcoin as a legitimate store of value and a strategic piece for diversification in serious portfolios. The direct purchase of BTC through preferred instruments represents a more aggressive and structured alternative in the crypto institutional market.

The creation of multiple classes of preferred stocks with tailored structures has allowed for efficient capital attraction. Strategy has authorized a broader program to issue up to $21 billion per share type.

It is likely that no one will match, let alone surpass, MicroStrategy's capital cost advantage. The company has managed to maintain significant profitability, reporting a 25% return on its BTC treasury in 2025.

In the same year, the largest IPO in the United States was conducted by the crypto fintech company Figure Technologies, which raised $787.5 million with a valuation of approximately $5.3 billion; its shares are listed on the Nasdaq under the ticker "FIGR".

Strategy's BTC treasury expansion strategy is based on financial engineering and strategic conviction. The company raised an additional $740 million through the issuance of new common and preferred shares between July 14 and 20.

In conclusion, MicroStrategy's strategic approach to Bitcoin adoption and its significant Bitcoin treasury make it a key player in the institutional crypto market. Its continued growth and profitability underscore the potential of Bitcoin as a legitimate asset class for serious investors.