Strategy (MSTR) Surges 10% as Firm Adds 535 Bitcoin Worth $43 Million

Key Highlights

• The firm acquired 535 BTC for approximately $43 million during the period of May 4–10, paying an average of $80,340 per bitcoin.
• Strategy’s bitcoin treasury now totals 818,869 BTC, purchased for roughly $61.9 billion at an average entry point of $75,540.
• Funding came from at-the-market offerings of both MSTR common shares and preferred stock.
• CEO Michael Saylor noted the company might liquidate some bitcoin for dividend payments, though purchases would significantly exceed any sales.
• Shares climbed 9.8% throughout the week, finishing Friday’s session at $187.59; pre-market activity Monday showed a ~0.67% gain.

Strategy (MSTR) has resumed its bitcoin acquisition strategy. The enterprise added 535 BTC to its treasury for about $43 million during the week spanning May 4 through May 10, based on regulatory documents filed with the SEC on May 11.

The company paid an average of $80,340 for each coin. Given bitcoin’s current trading price above $81,000, this acquisition is already showing unrealized gains.

Funding for this transaction came through at-the-market equity offerings, specifically Class A common shares (MSTR) and perpetual Stretch preferred stock (STRC), which collectively generated approximately $42.9 million.

Strategy Inc, MSTR

Strategy’s bitcoin reserves have now reached 818,869 BTC, accumulated for approximately $61.9 billion with an average acquisition cost of $75,540 per coin. Using current market valuations, this treasury is valued at roughly $66.5 billion.

The company’s holdings represent more than 3.9% of bitcoin’s fixed maximum supply of 21 million coins.

Michael Saylor Restarts Acquisition Campaign Following Earnings

The company disclosed a $12.7 billion net loss for Q1, primarily driven by a $14.5 billion unrealized impairment on its bitcoin position under recently implemented accounting standards.

During the quarterly earnings discussion, Saylor indicated Strategy might liquidate portions of its bitcoin reserve to satisfy dividend requirements for its STRC preferred shares or to settle convertible debt obligations.

Capital Raising Infrastructure Continues to Scale

To support its continuous purchasing activity, Strategy has been expanding its fundraising capabilities. The firm operates multiple at-the-market preferred stock programs — STRK, STRC, STRF, and STRD — with aggregate capacity reaching tens of billions of dollars.

These complement the comprehensive “42/42” capital strategy, which seeks to raise $84 billion through a combination of equity issuances and convertible debt instruments.

Strategy recently expanded these initiatives, incorporating up to $21 billion in additional MSTR stock offerings along with supplementary preferred stock programs.

STRC has emerged as a primary funding mechanism for recent bitcoin acquisitions. This instrument carries an 11.5% annual dividend yield and is structured to maintain a price near its $100 par value. The company has also floated a proposal to increase dividend frequency from monthly to semi-monthly.

Shares appreciated 9.8% over the week, closing Friday at $187.59. Following Monday’s purchase announcement, pre-market trading showed the stock advancing approximately 0.67%. Despite this recent strength, shares remain roughly 59% below their summer 2025 peak, with an mNAV ratio currently at 1.04.

Data from Bitcoin Treasuries indicates that 196 publicly traded companies have now implemented bitcoin treasury strategies.

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