US-based software firm Strategy, formerly known as MicroStrategy, has accelerated its Bitcoin acquisitions over the past week. The company purchased a total of 535 Bitcoin between May 4 and May 10, according to a filing with the US Securities and Exchange Commission. The disclosure stated that around $43 million was spent for this latest purchase at an average price of $80,340 per Bitcoin.
New purchases boost portfolio to record high
With this latest addition, Strategy’s total Bitcoin holdings have jumped to 818,869 BTC. The company has acquired all of its Bitcoin to date at an aggregate cost of approximately $61.86 billion, with an average acquisition price of $75,540 per coin. As Bitcoin traded above $81,000 during the purchase period, this means the company’s position remained profitable relative to its overall average cost.
Bitcoin buys funded by share sales
The funds for this recent round of Bitcoin purchases came from sales of the firm’s Class B common shares and its Stretch perpetual preferred shares, traded under the symbol STRC. Over the relevant period, the company raised approximately $42.9 million through these share offerings.
Strategy’s shares on the stock market, listed as MSTR, closed the week at $187.59, marking a 9.8% increase in just one week. The stock continued its upward momentum in pre-market trading after news of the Bitcoin purchases broke. However, the current share price still remains significantly below the peaks seen in the summer of 2025.
A standout among public companies
Strategy has made a name for itself among publicly listed firms through its aggressive investment in Bitcoin. Executive Chairman Michael Saylor has become a prominent voice in the crypto asset markets, consistently communicating the firm’s Bitcoin strategy and acquisition policies transparently to investors.
In the first quarter, the company announced a steep net loss due primarily to accounting changes and declining values in its Bitcoin portfolio. Following the Q1 earnings release, Strategy took a brief pause in its acquisition program, which Saylor marked with a post on X stating, “We are back in business,” to signal the fresh round of purchases.
Michael Saylor indicated that the company may sell some Bitcoin in the future to cover dividend payments or debt, but assured that this would be part of a long-term strategy aimed at increasing the amount of Bitcoin per share for shareholders.
Saylor explained that even if the company sells Bitcoin, each coin sold could be replaced by buying 10 to 20 more, under the right financing conditions. He reiterated that driving up the amount of Bitcoin per share remains the core focus of Strategy’s approach.
Scrutiny over STRC and funding structure
The STRC-styled Stretch perpetual preferred share forms the backbone of Strategy’s current fundraising model. Offering an annual dividend yield of 11.5%, STRC was designed to trade on the market close to its nominal value of $100 per share.
Saylor has clarified that, unlike conventional bonds, STRC is perpetual and does not grant immediate cash redemption rights to holders. This feature enables the company to secure permanent, stable capital while also ensuring dividend payments are made in line with the company’s timeframes, as stakeholders remain dependent on market liquidity.
The firm has also proposed moving STRC dividend distributions from a monthly to a semi-monthly schedule. Strategy hopes this adjustment will shorten reinvestment delays, boost market liquidity, and contribute to enhanced price stability.
Alongside STRC, Strategy operates other preferred share programs such as STRK, STRF, and STRD, leveraging these instruments in pursuit of a total $84 billion in capital by 2027. The firm adapts its strategies based on fluctuations in the Bitcoin price, share premiums, prevailing credit conditions, and broader market opportunities.
Saylor also responded to criticism that the company buys Bitcoin at weekly price peaks, insisting that they typically raise capital when shares are trading at a premium before converting proceeds to Bitcoin purchases.
Longtime Bitcoin skeptic and investment advisor Peter Schiff renewed his criticisms following Saylor’s statements about the dividend policy and STRC structure. Schiff described the STRC as high-risk, warning that it is unsuitable for retirees seeking capital preservation and steady income, and argued that public statements on the product could legally backfire if investors incur losses. He further characterized STRC as a centralized, Ponzi-like mechanism.
Saylor countered these points by asserting that Bitcoin should be viewed as “digital capital,” and the firm’s innovative financing tools are designed to support long-term Bitcoin ownership. He maintains that such products are crucial to expanding Strategy’s Bitcoin reserves.
