Michael Saylor reveals how ChatGPT helped Strategy unlock $15 billion for its Bitcoin machine
Michael Saylor said Strategy used AI, specifically ChatGPT/OpenAI, to help design a new preferred-stock structure that opened another financing channel for Bitcoin purchases. He said existing funding sources such as common-stock sales and convertible bonds were becoming harder to scale, so in early 2025 the company explored a novel variable-dividend preferred security that could trade near its $100 face value and function more like short-duration credit. That work led first to STRK and later to STRC, a variable-rate preferred stock. Saylor said the structure was unusual enough that advisers were skeptical, but AI helped assess whether it could be built within securities rules. Strategy ultimately raised about $10.5 billion through STRC and about $4 billion through related preferred securities, totaling roughly $15 billion in capital for its Bitcoin strategy.
