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%Strategy (NASDAQ: $MSTR ) has officially issued new preferred stock as the company looks to aggressively increase its %Bitcoin (CRYPTO: $BTC ) purchases.

Three Strategy executives were among those who bought the company’s new preferred stock as it hit the market.

The executives took advantage of a comparatively cheap price for the stock and its hefty 12% dividend yield.

Strategy sold 8.5 million shares of preferred stock at $85 U.S. each, which was below the initial price of $100 U.S. The deal raised $711 million U.S. for the company after fees.

Strategy, formerly known as MicroStrategy, is a serial Bitcoin acquirer and the largest corporate holder of BTC in the world, with 506,000 tokens worth $44 billion U.S.

Strategy CEO Phong Le purchased 6,000 preferred shares at $85 U.S., while CFO Andrew Kang bought 1,500 shares, and general counsel Wei-Ming Shao purchased 500 shares.

The preferred shares are like a combination of bonds and stocks and offer a big dividend payout that yields 12%.

The preferred stock is now trading on the Nasdaq exchange under the ticker symbol “STRF.” It cannot be converted into Strategy’s common stock.

Strategy has said that it plans to use the money raised to purchase more Bitcoin. In recent days, the company acquired an additional 6,911 Bitcoin, lifting its total cache above 500,000.

A former software company, Strategy has transitioned into a Bitcoin holding company under the direction of chairman Michael Saylor.

The stock of Strategy has risen 14% so far in 2025 to trade at $341.81 U.S. per share