Strategy (MSTR) Stock: Saylor Adds to Bitcoin Treasury With Massive $2 Billion Weekly Buy

TLDR

• Strategy purchased 24,869 BTC for $2.01 billion between May 11–17, at an average price of $80,985 per coin.
• Total holdings now stand at 843,738 BTC, acquired for roughly $63.87 billion at an average cost of $75,700 per coin.
• Nearly 97% of the purchase was funded through sales of its STRC perpetual preferred stock, raising ~$1.95 billion.
• Strategy’s BTC stash now exceeds BlackRock’s ~817,000 BTC held across its ETF products.
• MSTR stock was down about 2.5% in premarket trading on Monday, alongside a dip in Bitcoin prices.

Michael Saylor’s Strategy has done it again. The company disclosed yet another massive Bitcoin purchase in an SEC Form 8-K filing Monday, picking up 24,869 BTC between May 11 and May 17 for approximately $2.01 billion.

The buy was made at an average price of $80,985 per coin, pushing Strategy’s total holdings to 843,738 BTC. The company has now spent around $63.87 billion accumulating Bitcoin since it began buying in 2020, with an average cost basis of $75,700 per coin.

At time of writing, those holdings were valued at roughly $65.3 billion based on CoinGecko data, meaning the position sits at an unrealized gain.

MSTR stock slipped about 2.5% in premarket trading Monday, tracking a modest pullback in Bitcoin, which was trading near $77,700.

Strategy Inc, MSTR

How Strategy Paid for It

The purchase was almost entirely funded through sales of the company’s STRC perpetual preferred stock, which accounted for about 97% of total proceeds.

Strategy raised roughly $1.95 billion by selling approximately 19.5 million STRC units. A much smaller slice — about $83.7 million — came from sales of 430,344 Class A common shares.

This funding structure is consistent with recent large purchases. A 34,164 BTC buy earlier this year, Strategy’s third-largest on record, was also financed primarily through preferred securities rather than common equity.

STRC Live had flagged heavy preferred stock activity during the week, including a record single-day trading volume of 15.1 million shares, with estimated BTC purchases of around 15,466 coins.

Strategy Now Holds More Bitcoin Than BlackRock’s ETF

Strategy’s 843,738 BTC now surpasses BlackRock’s approximate 817,000 BTC, which the asset manager holds on behalf of clients through its Bitcoin ETF products.

That gap has widened with each successive purchase, cementing Strategy’s position as the largest public corporate holder of Bitcoin.

Saylor has made 109 Bitcoin acquisition events since 2020, a record he has shared publicly in chart form to signal ongoing accumulation.

The latest purchase came one week after Saylor raised eyebrows on Strategy’s earnings call by floating the idea of eventually selling Bitcoin. He framed it as a way to better protect the asset’s long-term value, walking back the company’s long-held “never sell” stance.

He argued that holding too rigidly to that position could, over time, work against the asset it was designed to support.

For now, the buying continues. Strategy has not disclosed any sales.

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