Strategy, the world's largest public corporate Bitcoin holder, revealed plans on March 10 to raise up to $21 billion in new capital specifically for purchasing more Bitcoin. The company announced this through a new sales agreement termed the "ATM Program."

The program will involve issuing and selling shares of Strategy's 8% Series A perpetual preferred stock over time. Sales will be conducted in a disciplined way, with careful consideration of trading prices and volumes of the stock at the time of sale.

According to the company's filing with the Securities and Exchange Commission, the net proceeds from the ATM Program will go toward general corporate purposes, including Bitcoin acquisition and working capital.

Strategy currently holds 499,096 Bitcoin valued at $41.2 billion. The company acquired these holdings for $33.1 billion at an average price of $66,423 per Bitcoin. In 2025 alone, they have made six Bitcoin purchases, adding 52,696 BTC since January 13.

The company previously outlined its "21/21 plan" to raise:

• Up to $21 billion in equity
• Up to $21 billion in fixed-income securities

Strategy's Bitcoin yield reached 74% in 2024, representing the percentage change in the ratio between its BTC holdings and assumed diluted shares. For 2025, the company aims for a 15% Bitcoin yield.

Formerly known as MicroStrategy, the company has become a major player in the crypto industry since announcing its Bitcoin reserve strategy in August 2020. Michael Saylor, Strategy's co-founder and former CEO, continues to advocate for Bitcoin adoption, including urging the US government to increase its Strategic Bitcoin Reserve holdings.

Prediction markets have shown strong confidence in Strategy's acquisition patterns. In February, Polymarket traders assigned a 97% probability that the company would purchase additional Bitcoin between February 4-10, with $661,565 in trading volume backing this prediction. Separate markets show only a 14% chance the company will sell any holdings by December 2025.