MicroStrategy Secures $420 Million to Lead Crypto Treasury Shift

• First Nasdaq-listed company to adopt IP tokens as a core reserve asset.
• Major crypto investors back $420 million PIPE financing for tokenized treasury shift.

MicroStrategy Incorporated (NASDAQ: MSTR) is making a landmark move, becoming the first Nasdaq-listed entity to adopt IP tokens as its primary reserve asset. On August 11, 2025, Business Wire confirmed that MicroStrategy secured $420 million through a private investment in public equity (PIPE) financing to fund this bold shift. This initiative marks a significant step toward the mainstream adoption of tokenized intellectual property and digital assets.

Prominent crypto-focused investors, including a16z crypto, Polychain Capital, Amber Group, and Arrington Capital, are backing the financing. The deal comprises $200 million in cash and $220 million in IP tokens, and MicroStrategy plans to finalize the transaction by August 13.

MicroStrategy will use $182 million of the cash proceeds to purchase IP tokens directly from the Story Protocol Foundation at $6.88 per token. In turn, the Story Protocol Foundation will reinvest all net cash proceeds to repurchase IP tokens from the primary market within 90 days. After the transaction, MicroStrategy anticipates holding 72.5 million IP tokens, which were valued at approximately $461 million on August 10.

IP tokens are the native cryptocurrency of Story, a Layer 1 blockchain network for tokenizing, registering, and monetizing intellectual property. The platform empowers creators and AI-driven agents to manage licensing and ownership rights with blockchain technology. By adopting IP tokens, MicroStrategy positions itself as a pioneer in the Consumer Packaged Goods (CPG) sector. This move also aligns with its Cryptocurrency Treasury Reserve Policy, which the company announced in June 2025.

According to CoinMarketCap on August 11, Story (IP) traded at $6.83 as of 17:09 UTC, marking a 4.88% increase over the last 24 hours.