US-based publicly traded company Strategy has announced it has increased its Bitcoin holdings by 535 BTC, reaching a total of 818,869 BTC. With these most recent purchases, the company’s total Bitcoin stockpile now accounts for roughly 3.9% of Bitcoin’s maximum supply of 21 million coins, marking Strategy as one of the most prominent institutional Bitcoin holders in the industry.
Latest acquisitions and funding sources
According to regulatory filings submitted to the US Securities and Exchange Commission (SEC), Strategy acquired 535 BTC between May 4 and May 10, investing approximately $43 million at an average price of $80,340 per Bitcoin. The bulk of these purchases was funded through proceeds generated from the sale of the company’s publicly-traded ordinary shares and preferred stock. In particular, the company’s Class A shares—trading under the ticker MSTR—and continually offered STRC preferred shares played a notable role in securing the necessary capital.
Beyond these, Strategy operates public shelf programs for four different types of preferred shares: STRK, STRC, STRF, and STRD. The company has allocated $21 billion for STRK, $4.2 billion for STRC, $2.1 billion for STRF, and $4.2 billion for STRD. More recently, Strategy secured approval to sell up to an additional $21 billion in MSTR shares.
Management has also requested to change the dividend payment frequency for STRC preferred shares from monthly to every two weeks. They believe this adjustment will support faster reinvestment, higher liquidity, and improved price stability.
“This change may lead to reduced reinvestment delays, greater liquidity, increased efficiency, and improved price stability,” the company noted.
Costs and market valuation
Following this latest acquisition, the total cost of Strategy’s Bitcoin portfolio has reached $61.9 billion. When accounting for all BTC holdings, the company’s average purchase price stands at $75,540 per Bitcoin. During periods when the BTC price has surged above $81,000, the total portfolio value has approached $66.5 billion, putting Strategy in a profitable position—at least on paper. According to CryptoAppsy data, Bitcoin’s push above $81,000 has further contributed to gains in the company’s overall holdings.
Saylor hints at possible sale
Michael Saylor, co-founder and chairman of Strategy’s board, stated on social media prior to the latest acquisition that the company continues its Bitcoin accumulation program. Strategy had briefly paused purchases in the previous week ahead of its first-quarter earnings announcement. The company had reported a net loss of $12.7 billion in Q1, attributing $14.5 billion of that figure to declines in Bitcoin’s value.
During the earnings call, Saylor indicated that the company may consider selling a portion of its Bitcoin holdings in the future if cash flow needs arise, although he emphasized any such sales would be minimal—essentially symbolic compared to the scale of their acquisitions. In his weekend address, Saylor reiterated that the company’s main strategy remains long-term Bitcoin accumulation and noted that small, forced sales would be offset by much larger future purchases.
“In times like these, even if a single Bitcoin is sold, we would buy 10 or 20 more. If you spend your Bitcoin, you should replace what you used,” Saylor explained.
Holding Bitcoin in corporate treasuries is no longer unique to Strategy. Data from Bitcoin Treasuries shows there are 196 publicly traded companies worldwide with completed or planned Bitcoin purchase strategies. However, many of these firms have lost significant value since reaching their peak valuations in the summer of 2025.
Strategy’s MSTR shares remain about 59% below their historic highs. The company currently has a price-to-book ratio of 1.04, and its stock saw a 9.8% gain last week, closing Friday at $187 per share.
