Key Takeaways
- Strategy purchased 7,390 BTC for $764.9 million at $103,498 per coin.
- The firm now holds 576,230 BTC, worth over $59 billion.
- Strategy funded the purchase through $765M in equity sales from MSTR and STRK shares.
Bitcoin treasury firm Strategy, formerly known as MicroStrategy, announced the purchase of 7,390 bitcoin between May 12 and May 18.
The acquisition totaled approximately $764.9 million in cash at an average price of $103,498 per BTC, according to a new SEC filing.
Total holdings and investment
This latest purchase brings the firm’s total holdings to 576,230 BTC, currently valued at more than $59 billion.
Co-founder Michael Saylor noted that the company has spent $40.2 billion on its bitcoin acquisitions to date, averaging $69,726 per coin, and holding over 2.7% of bitcoin’s 21 million supply.
Funding the acquisition
Strategy funded the new acquisition through the sale of 1.7 million shares of its class A stock (MSTR) for $705.7 million and 621,555 shares of its preferred stock (STRK) for $59.7 million.
As of May 18, the firm still has $18.98 billion in MSTR and $20.79 billion in STRK shares available for future issuance.
Market strategy and trends
Saylor hinted at the upcoming purchase on Sunday, posting:
Never short a man who buys orange ink by the barrel.
This buy follows a $1.3 billion acquisition of 13,390 BTC the previous week.
Strategy has added over 303,000 BTC in just six months.
Industry context
Meanwhile, more than 70 companies are now pursuing bitcoin treasury strategies, including recent moves by Cantor Fitzgerald, Méliuz, and Metaplanet.
Strategy’s aggressive accumulation continues amid a volatile market, with BTC currently trading at $103,188.
