Michael Saylor's Strategy bought 24,869 Bitcoin for about $2.01bn between May 11 and 17, lifting the company's holdings to 843,738 BTC in the largest single purchase of its recent run. The buys were made at an average price of $80,985, raising the firm's cost basis to $75,700, Cointelegraph reported, citing a Monday 8-K filing with the US Securities and Exchange Commission. The holdings, acquired for roughly $63.87bn, were valued at about $65.3bn at the time of publication, with the asset hovering around $80,000.
In a stack that now far outpaces BlackRock's roughly 817,000 BTC held for clients, Strategy has cemented its position as the world's largest public Bitcoin holder. The acquisition was funded almost entirely through sales of the company's STRC perpetual preferred stock, which accounted for about 97% of total proceeds — roughly $1.95bn raised from about 19.5 million STRC shares. Strategy's Class A common stock contributed a smaller share, generating about $83.7m in net proceeds from 430,344 shares.
The structure mirrored previous large buys this year, including a 34,164 BTC purchase financed largely through preferred securities rather than common equity, Cointelegraph reported. Saylor had earlier posted a chart showing 109 acquisition events since 2020, foreshadowing the addition.
The purchases came a week after Saylor raised the possibility of selling Bitcoin during Strategy's recent earnings call, framing it as a way to better protect the asset's long-term value. He said sticking too rigidly to a "never sell" approach could, over time, work against the very asset the company is built to accumulate and hold, Cointelegraph reported. The latest buy was broadly in line with heavy STRC trading flagged during the week, including a record day of 15.1 million shares.
Figures referenced: Michael Saylor. — JudgeMarket.
