Saylor Credits ChatGPT with $15 Billion in Strategy's Preferred-Stock Structures

Strategy Executive Chairman Michael Saylor credits ChatGPT for helping design preferred-stock structures that raised about $15 billion, extending the company's Bitcoin (BTC) financing beyond convertible debt. Strategy turned to OpenAI's ChatGPT after becoming the world's largest convertible bond issuer and maxing out that market. By early 2025, the company already held about $30 billion in BTC.

Saylor said Strategy first introduced STRK, a convertible preferred stock, then followed with a preferred security carrying a variable monthly dividend rate. He claimed one instrument raised $10.5 billion and roughly $4 billion came from related financing, taking the total to about $15 billion.

The company has struggled to break above $150 this year, but Saylor remains highly bullish on Bitcoin despite selling some of its holdings. He expects growth to slow to roughly 20% annually after a 30% annual increase for the next 20 years, which would put BTC near $12 million by 2046.