Strategy buys 24,869 BTC for $2.01B; holdings top 4%

Strategy acquired 24,869 bitcoin for roughly $2.01 billion between May 11 and May 17, an SEC filing shows. The purchases increase the company's total bitcoin holdings to 843,738 BTC, equal to more than 4% of the 21 million bitcoin supply cap.

The filing shows the week’s purchases were made at an average price of $80,985 per bitcoin. Strategy’s cumulative bitcoin position carries an average acquisition cost of about $75,700 per BTC, representing a total cash outlay of approximately $63.9 billion including fees and expenses. At current market levels the holdings are valued near $65.3 billion, implying about $1.4 billion in unrealized gains.

Strategy funded the purchases through at‑the‑market sales of its Class A common stock, MSTR, and issuance of its perpetual preferred stock, STRC. From May 11–17 the firm sold 430,344 MSTR shares for about $83.7 million and issued 19,519,801 STRC shares for roughly $1.95 billion. As of May 17 the company reported $26.27 billion of MSTR and $17.51 billion of STRC available for future issuance and sale under those programs.

The week’s buy ranks as Strategy’s sixth‑largest weekly acquisition and its second‑largest so far this year, behind an April purchase of 34,164 BTC. The company expanded its at‑the‑market programs to allow up to an additional $21 billion of MSTR, $21 billion of STRC and $2.1 billion of STRK preferred stock to support future purchases.

STRC is a variable‑rate cumulative preferred stock that pays adjustable monthly dividends intended to keep it near a $100 par value. The preferred currently offers an annualized rate of about 11.5%. Strategy has proposed shifting STRC’s dividend payments from monthly to twice per month, saying the change could reduce reinvestment lag and enhance liquidity and price stability.

Some market observers have linked recurring STRC issuance and the timing of Strategy’s bitcoin buys, noting the company often issues shares and uses proceeds to acquire bitcoin ahead of the security’s ex‑dividend date on the 15th of each month. Michael Saylor updated the company’s public bitcoin acquisition tracker and posted the phrase “Big dot energy” before the latest disclosure.

Separately, Strategy agreed to repurchase $1.5 billion face value of its zero‑coupon 2029 convertible notes for about $1.38 billion, retiring the debt at roughly 92 cents on the dollar. The company listed possible bitcoin sales among potential funding sources for that repurchase.

Market reaction over the past week included a roughly 5.1% decline in Strategy’s Class A shares to close at $177.42, while the stock remains up about 14.8% year‑to‑date. Bitcoin’s price fell about 3.3% over the same period, slipping below $77,000 earlier Monday amid geopolitical tensions and renewed inflation concerns.

Data tracking public-company bitcoin holdings shows nearly 200 firms have disclosed some exposure to bitcoin, with more than 80 actively adding to positions. Strategy’s stake remains among the largest reported by any public company.