Strategy’s $42B ATM Bonanza: The Bitcoin Comedy Show You Didn’t Know You Needed!

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Key Highlights (or Highlights of the Day, if You’re Bored)

  • Strategy has just filed new $21 billion ATM programs for MSTR common stock and STRC preferred shares. Because who doesn’t need more money?
  • They decided to play musical chairs with their preferred stock structure-out with the old STRK offering, and in with a shiny new $2.1 billion STRK ATM. It’s like trading in your old car for a fancier one, but it’s all virtual!
  • This expanded fundraising capacity is here to support the never-ending quest for more Bitcoin-because obviously, one can never have too much digital currency, right?

According to a March 23 filing with the U.S. Securities and Exchange Commission (a.k.a., the folks who keep us honest), Strategy, that lovable Bitcoin treasury firm, has decided to go big or go home, expanding its at-the-market fundraising capacity with not one, but two new $21 billion issuance programs linked to its MSTR common stock and STRC preferred shares.

So now they’re rolling in an extra $42 billion in ATM capacity-because who doesn’t want to feel like a billionaire on paper? They also filed a separate $2.1 billion program for STRK preferred stock, while giving a gentle wave goodbye to the previous STRK offering. Talk about a makeover!

Strategy announces new $21 Billion $STRC ATM Program and new $21 Billion $MSTR ATM Program.

– Michael Saylor (@saylor) March 23, 2026

New ATM programs filed for MSTR and STRC (Hold onto Your Wallets!)

Per the filing, Strategy went ahead and added some addenda to its existing sales agreement, allowing them to issue and sell more of that sweet, sweet Class A common stock and Variable Rate Series A Perpetual Stretch Preferred Stock. Sounds fancy, huh?

The company claims that the new common stock annex covers up to $21 billion of MSTR shares, while the new STRC annex covers up to $21 billion of STRC preferred stock. It’s like a buffet of stock options!

These filings seriously amp up Strategy’s ability to raise capital in the market-because why not make it rain cash while keeping the party going?

Broker lineup expands (Get Your Brokers Here!)

In their latest episode of “Who Wants to Be a Broker?” Strategy added Moelis & Company, A.G.P./Alliance Global Partners, and StoneX Financial as sales agents under their omnibus sales agreement. It’s like a broker reunion tour!

They’re joining an existing group of distribution partners already in the party, suggesting that Strategy is broadening the channels through which it can execute future share sales. More brokers, more fun!

STRK offering reset as share authorization shifts (The Great Swap!)

Alongside the new MSTR and STRC programs, folks, we have a brand new $2.1 billion ATM program for STRK preferred stock. And in the ultimate plot twist, the previous STRK offering was terminated effective March 22, 2026. Cue the dramatic music!

In a bold move, the company also amended its preferred share structure. They increased authorized STRC shares from 70,435,353 to a whopping 282,556,565, while slicing authorized STRK shares from 269,800,000 to just 40,270,744. It’s like trimming the fat but with stocks!

This combo points to a financing shift toward STRC, even as STRK still tries to find its place in the grand capital dance.

Latest Bitcoin purchases (More, More, More!)

With this expanded ATM capacity, Strategy keeps adding to its Bitcoin stash. In a separate Form 8-K filing-because what’s life without a little paperwork-they announced the purchase of 1,031 BTC for around $76.6 million at an average price of $74,326 per coin last week. Talk about a shopping spree!

This latest haul brings their total Bitcoin holdings to a staggering 762,009 BTC, costing roughly $57.69 billion. And you guessed it-the latest purchase was funded mainly through those fancy at-the-market sales of preferred shares, especially STRC, along with a sprinkle of common stock issuance. Who needs a piggy bank when you have ATMs?

Prior programs remain in place for some securities (Oldies but Goodies)

Strategy confirmed they’ll keep using their prior common stock prospectus and prior STRC preferred stock prospectus until they’ve sold all the shares registered under those earlier programs. It’s like keeping the classic hits on the playlist!

Before this latest filing, they had already registered over $15.85 billion in common stock, $4.2 billion in STRC preferred stock, and more than $20.34 billion in STRK preferred stock under earlier prospectus supplements. It’s a stock extravaganza!

But don’t get too excited-the latest filing doesn’t mean they’ll sell the full amount immediately. ATM programs let companies drip-feed shares into the market, depending on how the winds of the market are blowing and their capital needs. So stay tuned for more shenanigans!

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2026-03-23 17:57