Strategy Adds $427 Million in Bitcoin, Boosting Holdings to 580,250 BTC

Strategy Inc., formerly known as MicroStrategy, has expanded its already massive Bitcoin treasury with a fresh purchase of 4,020 BTC worth approximately $427.1 million. The acquisition brings the company’s total Bitcoin holdings to 580,250 BTC, solidifying its position as the world’s largest corporate holder of the cryptocurrency.

The purchase was disclosed in a company press release on Monday, with an average acquisition price of $106,237 per bitcoin. To date, Strategy has spent nearly $40.61 billion on Bitcoin—factoring in all associated fees—at an average cost of $69,979 per coin.

This accumulation puts Strategy in control of close to 3% of Bitcoin's fixed 21 million supply, with unrealized gains of approximately $22.7 billion based on current market prices. At the time of the announcement, Bitcoin was trading at around $109,884, marking a 6.5% increase over the past week.

Funded by Equity and Preferred Stock Sales

To fund its latest Bitcoin acquisition, Strategy sold a combination of equity and preferred stock between May 19 and May 23:

• 847,000 shares of MSTR (common stock) raised $348.7 million.
• 678,970 STRK shares brought in $67.9 million.
• 104,423 STRF shares added another $10.4 million.

In a strategic move to scale its BTC accumulation, the company also launched a $2.1 billion ATM (at-the-market) offering of its 10% Series A Perpetual STRF Preferred Stock. Additionally, Strategy’s “42/42” plan aims to raise $84 billion through equity and convertible notes by 2027.

Michael Saylor, Strategy’s co-founder and prominent Bitcoin advocate, hinted at the acquisition via a social media post over the weekend:

“I only buy bitcoin with money I can’t afford to lose,” he wrote.

The latest 4,020 BTC purchase follows a previous acquisition made between May 12 and May 16, when the firm picked up 7,390 bitcoins for around $765 million.

Ripple Effect: A Blueprint for Institutional Adoption?

Strategy’s aggressive Bitcoin strategy appears to be influencing a growing number of firms. Over 70 institutions now hold BTC on their balance sheets, and momentum is building among both established and emerging players. Notably:

• Tether-backed Twenty One has joined the likes of Metaplanet, KURL, and Semler Scientific in building crypto treasuries.
• Publicly traded firms like GD Culture Group, Basel Medical Group, and Brazil's Méliuz have also revealed plans to hold Bitcoin as a reserve asset.

Investment firm Bernstein estimates that these so-called “Strategy copycats” could collectively add up to $330 billion to Bitcoin’s market capitalization over the next five years.

A Future Shaped by Corporate Bitcoin Treasuries

Strategy’s relentless Bitcoin accumulation strategy underscores a broader shift in institutional finance, where digital assets are increasingly being viewed as legitimate long-term stores of value. As Bitcoin continues to push new price ceilings, corporate adoption may serve as both a stabilizer and catalyst for further growth.

Whether the pace of buying continues at this scale remains to be seen, especially with the temptation of profit-taking in a surging market. But one thing is clear: Strategy’s moves are reshaping how corporations think about digital asset reserves—and others are taking note.