Strategy, the company formerly known as MicroStrategy, is expanding its already massive bitcoin bet.

The software company, led by Executive Chairman Michael Saylor, just announced it’s upsizing its Series A Perpetual Stride Preferred Stock (STRD) offering from $250 million to $1 billion—nearly four times the original amount.

Michael Saylor on X

This will raise about $979.7 million in net proceeds which will be used for general corporate purposes, with a big emphasis on buying more bitcoin.

“The point of our engine is to generate BTC torque via surgical management of our ATMs (at-the-market offerings) in every single trading day,” said Saylor, describing the…

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