Michael Saylor's Strategy Expands Bitcoin Holdings with New ATM Program
Strategy, the world's largest public corporate Bitcoin holder, announced plans to raise up to $21 billion in fresh capital to purchase more Bitcoin. The company made this announcement on March 10 through a new sales agreement called the "ATM Program."
Under this program, Strategy will issue and sell shares of its 8% Series A perpetual preferred stock over an extended period. The company plans to conduct sales in a disciplined manner, taking into account trading price and volumes of the stock at the time of sale.
According to the filing with the Securities and Exchange Commission, Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including Bitcoin acquisition and working capital.
Strategy currently holds 499,096 Bitcoin valued at $41.2 billion. The company acquired these holdings for $33.1 billion at an average price of $66,423 per Bitcoin. In 2025 alone, Strategy has made six Bitcoin acquisitions, purchasing 52,696 BTC since January 13.
The company previously revealed its "21/21 plan" to raise:
- Up to $21 billion in equity
- Up to $21 billion in fixed-income securities
Strategy's Bitcoin yield, which represents the percentage change of the ratio between its BTC holdings and assumed diluted shares, reached 74% in 2024. For 2025, the company targets a 15% Bitcoin yield.
Formerly known as MicroStrategy, the company has become a leading player in the crypto industry since announcing its Bitcoin reserve strategy in August 2020. Michael Saylor, Strategy's co-founder and former CEO, continues to advocate for Bitcoin adoption, including pushing the US government to increase its Strategic Bitcoin Reserve holdings.
As Bitcoin gains institutional acceptance, banks are also entering the cryptocurrency space. Emirates NBD, a major Middle Eastern banking group owned by the Dubai government, launched cryptocurrency trading services on March 5 through its digital banking subsidiary Liv. The bank now allows UAE customers to trade Bitcoin, Ethereum, Solana, XRP, and Cardano directly through the Liv X app.
