Strategy’s Stretch Preferred Stock Raises $2.521B, Funds 21,021 BTC Purchase

Cointime update: Strategy’s perpetual preferred stock Stretch raised approximately $2.521 billion in its initial offering, completed in July 2025, Michael Saylor said on X on November 7. The company used the net proceeds after fees to purchase 21,021 bitcoin. Stretch trades on Nasdaq and carries a monthly dividend rate set by the board.