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By James Van Straten, AI Boost|Edited by Stephen Alpher
Updated Jul 7, 2025, 1:14 p.m. Published Jul 7, 2025, 1:06 p.m.
- Strategy reported a $14.05 billion unrealized gain on digital assets in the second quarter, lifting the carrying value of its bitcoin holdings to $64.36 billion.
- The company further announced a new $4.2 billion at-the-market program for its STRD preferred series of stock, with proceeds to be used to fund additional bitcoin buys.
Michael Saylor-led Strategy (MSTR) expects to report a second quarter $14.05 billion gain on its bitcoin holdings of more than 500,000 coins as the price of BTC rose from around $82,000 to $108,000 during the three months ended June 30.
The company during the second quarter raised $6.8 billion in net proceeds through various capital markets activities, including preferred stock offerings and at-the-market sales of class A common stock, according to a Monday morning filing. As of June 30, Strategy said it retained significant capacity for future issuances, with $18.1 billion remaining under the 2025 Common ATM, $20.5 billion under the STRK ATM, and $1.9 billion under the STRF ATM.
STORY CONTINUES BELOW
Subsequently Monday morning, Strategy announced it has entered into a sales agreement allowing it to issue and sell up to $4.2 billion of its 10% Series A Perpetual Stride Preferred Stock, known as STRD, under an at-the-market offering program.
Strategy plans to sell STRD Stock over time, factoring in the trading price and volumes at each sale. Proceeds from the ATM Program are earmarked for general corporate purposes, including acquiring bitcoin
, supporting working capital needs, and potentially paying dividends to holders of its 10% Series A Perpetual Strife Preferred Stock and 8.00% Series A Perpetual Strike Preferred Stock.
STRD shares are up 6% since their launch on June 11. MSTR is lower by 1.2% in premarket trading on Monday as bitcoin slips a hair from late last week, trading at $108,300.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
