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Strategy, formerly MicroStrategy (MSTR), has announced plans to issue 2.5 million shares of 10% Series A Perpetual Stride Preferred Stock (STRD) to raise funds to expand its Bitcoin holdings and support working capital.
The company aims to raise approximately $250 million from this initial public offering (IPO), based on an initial liquidation preference of $100 per share. Meanwhile, other firms are also advancing Bitcoin treasury initiatives across the globe.
Strategy Plans Major IPO to Raise Funds for Bitcoin Expansion
According to Strategy’s official announcement, the offering targets institutional and select non-institutional investors. Holders are eligible for non-cumulative dividends, paid quarterly if declared, at a 10% annual rate.
“Strategy will have the right, at its election, to redeem all, but not less than all, of the STRD Stock, at any time, for cash if the total number of shares of all STRD Stock then outstanding is less than 25% of the total number of shares of STRD Stock originally issued in the offering and in any future offering, taken together,” the statement read.
The offering plan follows Strategy’s latest acquisition of 705 BTC for around $75.1 million yesterday. SaylorTracker data shows that the firm holds 580,955 BTC, valued at over $60 billion.
Strategy’s move comes amid a wave of corporate cryptocurrency adoption. On June 2, Hong Kong-based Reitar Logtech Holdings Limited (RITR), a logistics solutions provider, revealed that it is in advanced negotiations to create a strategic Bitcoin treasury. The initiative aims to purchase up to 15,000 BTC, valued at approximately $1.5 billion.
“Management believes this treasury diversification could provide several strategic benefits including enhanced financial resilience through allocation to a non-correlated digital asset, increased financial flexibility for future strategic acquisitions in logistics technology and automation platforms, and positioning for expansion in high-growth Asian markets where demand for smart logistics infrastructure continues to increase,” the filing read.
Similarly, the Norwegian Block Exchange (NBX) made history as Norway’s first listed company to adopt Bitcoin as a treasury asset. The company has acquired 6 Bitcoin and aims to raise its holdings to 10 BTC by June.
In Russia, Sberbank, the country’s largest bank, launched structured bonds tied to Bitcoin. This product is available to a limited group of qualified investors in the over-the-counter market.
“Ethereum remains at the core of our blockchain infrastructure strategy. Our expanding ETH position is not simply a treasury play-it’s a strategic byproduct of our NodeOps and high-growth Builder+ activities. We are focused on building highly scalable, revenue-generating infrastructure,” CEO Charles Allen said.
Now, it has entered into an agreement to issue up to $500 million in senior secured convertible notes, with an initial $11 million funding set to close soon. A significant portion of the proceeds, up to 80%, will be allocated to purchasing SOL.
India decided to introduce retaliatory measures against Trump tariffs after the US President decided to raise duties on steel and aluminum imports. The announcement comes just as US-China trade deal sees positive development, raising doubts over America’s China plus one policy.
Trump Tariffs: India Doesn’t Give Up to Donald Trump’s Whims
US President Donald Trump has dialed back significantly on the U.S.-China trade war after raising 145% in April. On the other hand, the progress on US-India trade talks seems to hit a barrier as India plans to put tariffs on several products as a retaliatory response to Trump tariffs on US steel and aluminum imports.
In March, the United States introduced a 25% tariff on steel and aluminum imports. As the world’s second-largest crude steel producer, India informed the WTO that these tariffs would impact $7.6 billion worth of Indian exports to the US.
The US-India trade war tensions escalated at a time when the two countries were discussing a Bilateral Trade Agreement (BTA), which is likely to conclude on July 8. This will be just before the 25% Trump tariffs kick in on Indian imports into the US, considering the 90-day grace period.
With President Trump announcing agreements with the UK and China over the past week, India, a key economic partner, waits on the sidelines. On Monday, Trump declared a “total reset” in the US-China Trade deal following the public release of the trade deal details between the two nations.
This could potentially impact India’s competitive edge in attracting global firms willing to relocate from China. This dialing back of Trump tariffs on China undermines the “China Plus One” strategy.
Crypto Market Upside Continues
Amid these broader macro developments, crypto market continues its upside, with Bitcoin price bouncing back 2% to $103,500, after dropping back on Tuesday. Altcoins are staging even greater strength with Ethereum (ETH) leading the pack with 9% gains. Other top altcoins like XRP, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have gained 4-10% today.
KULR Tech Group is making significant strides in the web3 space. On May 1, it was included in the newly-launched Grayscale Bitcoin Adopters ETF. The new ETF offers investors direct exposure to companies adopting Bitcoin as a treasury company.
Last year on December 4, 2024, the space, aerospace, and defense focused company commited up to 90% of its surplus cash reserves to be held in bitcoin. To date, KULR has acquired 668 BTC.
This decision marked a significant shift in KULR’s financial strategy – positioning Bitcoin as a primary asset in its treasury program.
Now, in its another significant move in web3, it has announced a new blockchain-based supply chain initiative.
KULR Inclusion in GrayScale Bitcoin Adopters ETF
KULR Launches Own Blockchain
In an official press release and company tweet, KULR revealed that it will move product tracking and custody verification from centralized software to a distributed ledger. This will help the company in recording each inventory item as a tamper-proof, timestamped entry on a private blockchain.
The company notes that “decentralizing the inventory tracking system on a blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain”.
The US-listed company has also revealed that one of the first product lines to be logged will be KULR’s NASA WI-37A–certified lithium-ion batteries.
Now, these batteries with space and aerospace applications will be permanently stored on-chain so that future users can verify performance and compliance.
Today, we are announcing the launch of a blockchain-secured supply chain initiative to safeguard our product-related data.
Decentralizing our inventory tracking system on blockchain offers enhanced transparency, security, and real-time visibility across the entire supply chain.… pic.twitter.com/HkhnCoqmhX
KULR has built its own private rollup on Coinbase’s Base Layer-2 (L2) blockchain – an Ethereum-powered network – to host this supply chain ledger.
This choice leverages a public blockchain infrastructure (Coinbase Base) for security and scalability. It will still keep the network permissioned under KULR’s control.
Under the new system, the company will represent each battery or part as a non-fungible token (NFT) on the blockchain.
Each token’s metadata – including test results, manufacturing details and certification data – will be recorded immutably.
When a customer purchases a battery, its NFT can be transferred to the buyer’s on-chain wallet or sent to a company “burn” wallet to signal the transfer of ownership.
For bulk orders, KULR will set up dedicated customer wallets to batch-transfer many NFTs at once.
Internally, the company has built a custom user interface linked to encrypted KULR-owned wallets. This dashboard would let staff monitor inventory and token transfers in real time.
Market and Investor Impact
The market reaction to the company’s blockchain announcement has been cautiously positive.
On Friday, one day after the blockchain and Grayscale ETF inclusion, KULR closed at $1.33 USD on May 2. This marks a 4.72% increase from the previous day’s close of $1.27.
KULR Stock on May 2
Company has also hinted at more initiatives towards blockchain and Bitcoin adoption.
On the inclusion in Grayscale Bitcoin Adopters ETF, Kurl CEO has said, “Honored to be included in Grayscale’s Bitcoin Adopters ETF. Appreciate the recognition as we continue building KULR Tech into a category-defining company at the intersection of space, defense, AI, and Bitcoin.”
Thus, with more near-term crypto plans in line, KULR is likely to draw attention from both energy-sector investors and digital-asset enthusiasts.
