At The Market (ATM)
A flexible equity offering allowing sales of shares into the market at prevailing prices over time.
What is At The Market (ATM)?
At-the-market (ATM) offering enables public companies to sell shares directly into existing trading markets at current prices, providing gradual capital raising without fixed terms. Strategy utilizes ATMs for its 42/42 plan, completing $21 billion in MSTR shares by May 2025 and launching $21 billion each for STRK and common, with $20.87 billion remaining for STRK as of May 2025.
This method supports opportunistic Bitcoin buys during bull markets, as seen in $180.3 million raised April-May 2025.
Related Terms
Prediction Market
A market where participants trade digital assets to forecast the outcome of future events, with prices reflecting aggregated probabilities.
Agentic Commerce
Commerce driven by autonomous agents using digital assets for transactions.
Layer 1 (L1)
The foundational blockchain protocol handling consensus, security, and transaction execution, like Bitcoin or Ethereum.
Constant Product Market Maker (CPMM)
An automated pricing model in DeFi that maintains a constant product of asset reserves in a liquidity pool to determine prices.
Beacon Chain
The proof-of-stake consensus layer of Ethereum, coordinating validators since December 2020.
Blockchain Trilemma
The blockchain trilemma refers to the challenge of balancing three core properties—decentralization, security, and scalability—in a blockchain network, where optimizing one often compromises the others.