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- MicroStrategy increased its BTC holdings by nearly 20% during the quarter, now holding 628,800 BTC—about 3% of the total supply.
- Strategy filed with the SEC to raise $4.2 billion through its Nasdaq-listed STRC preferred stock, as the company will use the proceeds for more Bitcoin purchases.
Michael Saylor’s MicroStrategy (NASDAQ: MSTR) reported its Q2 earnings on Thursday, July 31, beating market estimates with a massive $10 billion in revenues and an EPS ot $32. The declaration for Q2 results comes along with Strategy filing for $4.2 billion STRC IPO in order to buy more Bitcoins for its treasury.
Strategy Reports $10 Billion Q2 Incomes Amid Bitcoin Price Rally
Strategy’s $10 billion net income for the second quarter this year comes on the heels of a strong Bitcoin price rally. From the April lows, the BTC price has rallied all the way up 64% to a new all-time high at $123,000.
During the quarter, MicroStrategy increased its Bitcoin holdings by nearly 20%, rising from 499,000 BTC to 597,000 BTC. The company now holds a total of 628,800 BTC, representing approximately 3% of Bitcoin’s total circulating supply. Speaking on the development, company CFO Andrew Kang said:
Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline. As a result, our BTC Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60. These financial results, built upon the scale and performance of our bitcoin balance sheet, are at all-time highs for the company.
During Q2 2025, Strategy reported its earnings using fair value accounting for its digital assets. Before 2025, the company was using the cost-less-impairment model, which would have allowed it to post $180 million in impairment losses.
MicroStrategy Files for $4.2 Billion STRC Offering
In a major move, Michael Saylor’s Strategy has filed with the U.S. SEC to raise $4.2 billion through a stock offering for its recently launched Bitcoin-backed security, STRC. The capital raise is intended to further expand the company’s already sizable Bitcoin treasury.
The company announced it has entered into a Sales Agreement with TD Securities, Barclays Capital, The Benchmark Company, Clear Street, and Morgan Stanley for the sale of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Under the Sales Agreement, Strategy may offer and sell up to $4.2 billion worth of its STRC stock. The company noted that STRC is listed on Nasdaq and last traded at $94.50 per share. Strategy stated that it intends to use the net proceeds from the offering for general corporate purposes, which may include additional Bitcoin acquisitions.
However, the MSTR stock has been under strong selling pressure following the Q2 report. In the early trading hours on August 1, the MSTR stock is down 5% to $380. Although asse manager Vanguard has refrained from Bitcoin exposure, it is among the largest MSTR stockholders currently in the market.
