Strategy Adds 24,869 BTC in $2B Purchase, Total Holdings Hit 843,738 Bitcoin
Strategy, led by Michael Saylor, acquired 24,869 Bitcoin worth $2.01 billion during the past week, bringing total reserves to 843,738 BTC with STRC stock sales financing approximately 97% of the buy.
Strategy, led by Michael Saylor and recognized as the largest publicly traded Bitcoin holder globally, completed yet another substantial BTC purchase during the previous week while the cryptocurrency traded near the $80,000 level.
Between May 11 and May 17, Strategy purchased 24,869 Bitcoin (BTC) valued at $2.01 billion, as disclosed in the company's 8-K filing submitted Monday to the US Securities and Exchange Commission.
The acquisitions were executed at an average cost of $80,985 for each BTC, pushing Strategy's overall cost basis up to $75,700.
Strategy's total Bitcoin position now stands at 843,738 BTC, purchased for approximately $63.87 billion. Based on CoinGecko data at the time of writing, these holdings were worth around $65.3 billion.
STRC sales account for 97% of the entire purchase
The overwhelming majority of Strategy's most recent Bitcoin acquisition was financed through the sale of its STRC perpetual preferred stock, representing approximately 97% of the total funding.
The SEC filing reveals that Strategy generated around $1.95 billion by selling approximately 19.5 million STRC shares.
By contrast, sales of Strategy's Class A common stock (MSTR) represented a much smaller portion of the financing, producing approximately $83.7 million in net proceeds through the sale of 430,344 shares.
This result aligned closely with projections from STRC Live, which documented substantial STRC trading activity throughout the week, featuring a record single-day volume of 15.1 million shares, with projected Bitcoin purchases totaling approximately 15,466 BTC.
This funding approach is consistent with earlier major bitcoin acquisitions this year, including the purchase of 34,164 BTC, marking Strategy's third-biggest acquisition on record, which was similarly financed predominantly through preferred securities instead of common equity.
Saylor, Strategy's co-founder, had previously indicated the company's intention to expand its Bitcoin position by sharing a chart displaying Strategy's acquisition history, documenting 109 Bitcoin purchase events since 2020.
Strategy's 843,738 BTC position now significantly exceeds that of BlackRock, the globe's largest asset manager, which maintains approximately 817,000 BTC for its clients.
These acquisitions occurred one week following Saylor's comments during Strategy's recent earnings call about the potential for selling Bitcoin, positioning it as a mechanism to better safeguard the asset's long-term value.
Saylor suggested that maintaining an overly strict "never sell" Bitcoin philosophy might, in the long run, undermine the very asset that the company is designed to accumulate and preserve.