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Strategy used AI-designed preferred stock to raise about $15 billion for Bitcoin
Saylor said the company started the preferred-stock design work in early 2025 after common-stock issuance and convertible bonds became harder to scale for its next phase of Bitcoin buying.
Michael Saylor said Strategy used AI to help design a new preferred-stock structure that enabled the company to raise roughly $15 billion for its Bitcoin strategy, during an Aug. 6 appearance on The Diary of a CEO podcast, according to CryptoSlate.
Saylor said Strategy turned to the approach after existing financing channels, including common-stock sales and convertible bonds, were becoming more difficult to scale to the level of capital the company wanted to raise next. He described the AI use as supporting the securities design process rather than personal income or corporate profit, and said Strategy sold about $10.5 billion of one preferred-stock instrument and roughly $4 billion across related products.
He added that the experiment began in early 2025 as Strategy looked for another way to finance additional Bitcoin purchases. By then, he said Strategy had already leaned heavily on common-stock issuance and had become one of the world’s largest convertible bond issuers, which had supported earlier years of Bitcoin accumulation.
Saylor said Strategy initially produced STRK, a convertible preferred stock, before moving toward a different structure intended to behave more like short-duration credit and trade close to its $100 stated value by adjusting the dividend as market conditions change. He said conventional advisers were skeptical but that Strategy used AI to work through how to build the structure within existing securities rules, after which the company raised about $2.5 billion in an initial offering and later sold another roughly $8 billion.
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