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In The Media

WordPress’d Post by Nick Ward on STRF, STRK, STRD and Common MSTR

by Larry Chiang on June 9, 2025

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Strategy (MSTR) has built the largest corporate #Bitcoin treasury in the world—over 580,000 BTC, more than 10x the next closest company.
What makes that possible?
A capital stack engineered for one thing: turning capital into #Bitcoin at scale.
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Rather than rely on one financing method, Strategy designed a multi-layer capital structure—convertible notes, preferred equity ( $STRF, $STRK, $STRD ), and common stock—each appealing to a different investor risk profile.
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The result:
✔️ Billions raised without selling BTC
✔️ Minimal dilution
✔️ Repeatable structure for future growth
✔️ A blueprint for Bitcoin-native capital markets
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@Saylor isn’t just funding a treasury—he’s targeting the $300T global fixed income market.
Nick Ward’s full breakdown⬆️
 
 
Nick Ward
⁦‪@nckbtc‬⁩
Strategy (MSTR) has built the largest corporate #Bitcoin treasury in the world—over 580,000 BTC, more than 10x the next closest company.

What makes that possible?

A capital stack engineered for one thing: turning capital into #Bitcoin at scale.

Rather than rely on one pic.x.com/VrLc9uPDMd

 
6/9/25, 11:19 AM
 
 
Sent from my iPhone

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