Key Highlights
- Between May 11 and May 17, Strategy acquired 24,869 BTC for approximately $2.01 billion, paying an average of $80,985 per Bitcoin.
- The company’s cumulative Bitcoin position now reaches 843,738 BTC, purchased for around $63.87 billion with an average entry price of $75,700.
- Approximately 97% of the funding came from STRC perpetual preferred stock sales, generating roughly $1.95 billion in proceeds.
- Strategy’s Bitcoin reserves now surpass BlackRock’s approximately 817,000 BTC held in ETF vehicles.
- MSTR shares dropped around 2.5% during premarket hours Monday, mirroring a decline in Bitcoin’s market price.
Michael Saylor’s Strategy has executed another substantial Bitcoin acquisition. According to an SEC Form 8-K filing released Monday, the corporation added 24,869 BTC to its treasury during the May 11–17 period for a total outlay of approximately $2.01 billion.
The acquisition carried an average per-coin cost of $80,985, elevating Strategy’s aggregate Bitcoin position to 843,738 BTC. Since initiating its Bitcoin strategy in 2020, the firm has deployed roughly $63.87 billion toward cryptocurrency purchases, establishing an average cost basis of $75,700 per Bitcoin.
Based on current CoinGecko pricing data, the portfolio was valued at approximately $65.3 billion at press time, indicating the holdings remain in positive territory.
MSTR shares declined roughly 2.5% in Monday’s premarket session, following Bitcoin’s retreat to the $77,700 level.
Financing the Latest Acquisition
The purchase was predominantly financed through the company’s STRC perpetual preferred stock issuance, which contributed approximately 97% of the required capital.
Strategy generated around $1.95 billion by distributing approximately 19.5 million STRC units. A significantly smaller portion—roughly $83.7 million—originated from the sale of 430,344 Class A common stock shares.
This capital-raising approach mirrors the company’s recent pattern. An earlier acquisition this year involving 34,164 BTC, representing Strategy’s third-largest single purchase, was similarly funded predominantly through preferred securities rather than common equity dilution.
STRC Live detected substantial preferred stock trading activity throughout the week, including an unprecedented single-day volume of 15.1 million shares, with analysts estimating BTC purchases of approximately 15,466 coins during that period.
Strategy’s Bitcoin Position Eclipses BlackRock’s ETF Holdings
With 843,738 BTC now in its treasury, Strategy has overtaken BlackRock’s estimated 817,000 BTC, which the investment giant custodies for investors through its Bitcoin exchange-traded fund offerings.
This differential continues expanding with each successive acquisition, reinforcing Strategy’s dominance as the largest publicly traded corporate Bitcoin holder globally.
Saylor has executed 109 separate Bitcoin purchase transactions since 2020, a milestone he regularly highlights through publicly shared visualizations demonstrating the company’s persistent accumulation strategy.
This latest buy follows commentary from last week’s earnings conference call where Saylor surprised observers by suggesting the company might eventually divest Bitcoin holdings. He positioned potential sales as a mechanism to better preserve the asset’s long-term value proposition, representing a departure from the corporation’s historically unwavering “never sell” philosophy.
He contended that maintaining an overly rigid stance could ultimately undermine the very asset the strategy was designed to support.
For the present, however, the accumulation pattern persists. Strategy has not announced any Bitcoin sales to date.
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