Key Takeaways
- MicroStrategy's STRK became the top-performing US perpetual security in two weeks.
- STRK raised $563.4 million, nearly triple its initial projections.
- Michael Saylor met with Nayib Bukele to discuss Bitcoin adoption.
MicroStrategy, now rebranded as Strategy, launched STRK on January 27 to raise capital for Bitcoin acquisitions.
Within just two weeks, STRK became the best-performing perpetual security among US-listed offerings since 2022, surpassing 115 competing securities in price performance and trading volume.
Founder Michael Saylor highlighted STRK’s rapid growth on February 15, stating:
Strategy’s first IPO in 25+ years had record performance… $STRK ranks first in price performance, 19% higher than average, and first in trading volume, 7x the average.
Price movement & fundraising
STRK initially surged to $100 on launch day but later dropped to $48 after two weeks.
Despite the price fluctuation, the offering exceeded expectations, securing $563.4 million—nearly triple the projected amount.
Bitcoin adoption initiatives
Amid STRK’s strong market performance, Michael Saylor met with El Salvador’s President Nayib Bukele on February 14 to discuss expanding Bitcoin’s global adoption.
Saylor posted on X:
Bukele and I had a great discussion about the opportunities for El Salvador to benefit from and accelerate global Bitcoin adoption.
El Salvador, a major sovereign Bitcoin holder with 6,079 BTC, has been at the forefront of Bitcoin adoption under Bukele’s leadership.
Meanwhile, Strategy remains the largest corporate Bitcoin investor, holding 478,740 BTC, according to Bitcoin Treasuries data.
