Strategy Acquires 24,869 Bitcoin for $2B, Holdings Reach 843,738 BTC

Michael Saylor's Strategy, the world's largest public Bitcoin holder, acquired 24,869 Bitcoin (BTC) for $2.01 billion between May 11 and 17, according to an 8-K filing with the US Securities and Exchange Commission. The purchases were made at an average price of $80,985 per BTC during a period when the crypto asset hovered around $80,000. Strategy's total Bitcoin holdings now stand at 843,738 BTC, acquired for approximately $63.87 billion and valued at roughly $65.3 billion at the time of publication, according to CoinGecko.

## Acquisition Details

The latest purchase raised Strategy's cost basis to $75,700 per BTC. According to the SEC filing, the company conducted the acquisition over a one-week period in mid-May, adding significantly to its Bitcoin reserves.

## Funding Breakdown: STRC Leads Purchase

Strategy funded nearly all of its latest Bitcoin purchase through sales of its STRC perpetual preferred stock, which accounted for approximately 97% of total proceeds. The company raised roughly $1.95 billion from the sale of about 19.5 million STRC shares.

Strategy's Class A common stock (MSTR) contributed a smaller share of funding, generating about $83.7 million in net proceeds from the sale of 430,344 shares.

The funding structure mirrors previous large Bitcoin acquisitions in 2024, including a 34,164 BTC purchase that was also largely financed through preferred securities rather than common equity.

## Holdings Comparison

Strategy's 843,738 BTC now significantly exceeds holdings by BlackRock, the world's largest asset manager, which holds approximately 817,000 BTC on behalf of its clients.

## Context on Strategy's Bitcoin Philosophy

During Strategy's recent earnings call, co-founder Saylor raised the possibility of selective Bitcoin sales as a means to better protect the asset's long-term value. He stated that adhering too rigidly to a "never sell" Bitcoin approach could, over time, work against the very asset the company is built to accumulate and hold. Saylor has previously signaled the company's commitment to adding Bitcoin holdings, posting a chart showing Strategy's purchase history with 109 Bitcoin acquisition events since 2020.