Key Highlights
- Between May 11 and May 17, Strategy acquired 24,869 BTC for $2.01 billion, paying an average of $80,985 per Bitcoin.
- The company’s cumulative Bitcoin holdings have reached 843,738 BTC, purchased for approximately $63.87 billion with an average acquisition cost of $75,700.
- Approximately 97% of this latest acquisition was financed through STRC perpetual preferred stock sales, generating around $1.95 billion.
- Strategy’s Bitcoin treasury now surpasses the roughly 817,000 BTC held by BlackRock across its exchange-traded fund offerings.
- Shares of MSTR declined approximately 2.5% during Monday’s premarket session, mirroring Bitcoin’s price weakness.
Michael Saylor’s Strategy has executed another substantial Bitcoin acquisition. According to an SEC Form 8-K filing submitted Monday, the corporation purchased 24,869 BTC during the week of May 11 through May 17, spending approximately $2.01 billion.
The transaction was completed at an average cost of $80,985 per Bitcoin, elevating Strategy’s aggregate holdings to 843,738 BTC. Since initiating its Bitcoin accumulation strategy in 2020, the firm has invested roughly $63.87 billion, establishing an average purchase price of $75,700 per coin.
Based on current CoinGecko pricing data, these holdings were valued at approximately $65.3 billion at press time, indicating the company maintains an unrealized profit on its position.
MSTR stock experienced a decline of roughly 2.5% in Monday’s premarket session, correlating with Bitcoin’s retreat to approximately $77,700.
Financing the Acquisition
The transaction was predominantly financed through the sale of Strategy’s STRC perpetual preferred stock, representing approximately 97% of the capital raised.
Strategy generated roughly $1.95 billion by selling about 19.5 million STRC units. An additional $83.7 million came from the sale of 430,344 Class A common shares, representing a minor portion of the total funding.
This capital structure mirrors the company’s recent acquisition patterns. A previous 34,164 BTC purchase—Strategy’s third-largest transaction to date—was similarly funded predominantly through preferred securities instead of diluting common shareholders.
STRC Live documented significant preferred stock trading activity throughout the week, including a record-breaking single-day volume of 15.1 million shares, with estimated BTC purchases totaling approximately 15,466 coins.
Strategy’s Bitcoin Position Eclipses BlackRock’s ETF Holdings
With 843,738 BTC, Strategy now commands a larger Bitcoin position than BlackRock’s estimated 817,000 BTC, which the investment giant holds through its Bitcoin exchange-traded fund products on behalf of institutional and retail investors.
This differential has expanded with each successive acquisition, solidifying Strategy’s status as the world’s largest publicly traded corporate Bitcoin holder.
Saylor has executed 109 separate Bitcoin acquisition transactions since 2020, a milestone he regularly documents publicly through visual representations demonstrating the company’s consistent accumulation pattern.
This purchase follows just one week after Saylor generated discussion during Strategy’s quarterly earnings presentation by suggesting the company might eventually consider selling Bitcoin. He positioned this potential strategy as a mechanism to optimize long-term value preservation, marking a departure from the firm’s historical “never sell” philosophy.
Saylor contended that maintaining an overly rigid holding strategy could potentially undermine the very asset the approach aims to protect.
For the present, however, accumulation remains Strategy’s primary strategy. The company has not reported any Bitcoin sales to date.
