MicroStrategy Announces $42B ATM Offering for Bitcoin

MicroStrategy, the business intelligence firm led by Bitcoin advocate Michael Saylor, announced a new $42 billion at-the-market equity offering program on March 23, 2026, aimed at bolstering its capacity to acquire more of the cryptocurrency. The filing with the U.S. Securities and Exchange Commission comes as the company disclosed its latest purchase of 1,031 Bitcoin for $76.6 million at an average price of $74,326 per coin, pushing its total holdings to 762,099 BTC, valued at approximately $53 billion based on current market prices.

The ATM program, which allows for gradual share sales into the open market to minimize price disruption, is structured across multiple instruments. It includes up to $21 billion in Class A common stock under the ticker MSTR and $21 billion in a new Variable Rate Series A Perpetual Stretch Preferred Stock, designated STRC. Separately, MicroStrategy filed for a $2.1 billion ATM offering tied to its 8% Series A Perpetual Strike Preferred Stock, or STRK. Proceeds from these sales are designated for general corporate purposes, including Bitcoin purchases, working capital, and dividend payments on preferred shares. The company added three new sales...