Strike raises $55M in preferred stock to buy 638 BTC
What's the deal? Strike raised $55 million this week through a preferred stock issuance and used the proceeds to purchase 638 BTC. The post-IPO equity round was announced in October 2026.
What's the endgame? The purchase expands Strike's bitcoin treasury, which now holds 29,462 BTC worth roughly $2.4 billion.
By the numbers: At $55 million, the round sits near the bottom quartile of deals by size — in the 25th percentile. It is a targeted raise tied to a single, specific use of funds.
The signal: Strike's move reflects a growing playbook among crypto-linked companies: tapping equity markets to steadily grow bitcoin reserves rather than relying on cash alone.
Read more: bbx.com
Image credit: BeatingBetting
