Strategy Tops 800,000 BTC After Dropping Another $2.5B on Bitcoin CATEGORY: Industry News

Michael Saylor's Strategy (MSTR) just dropped another $2.54 billion on Bitcoin—34,164 coins purchased between April 13 and 19, per a Monday SEC filing. At an average price of $74,395 per coin, this marks Strategy's third-largest Bitcoin shopping spree by coin count, trailing only the November 2024 hauls of 55,500 BTC and 51,780 BTC. The latest haul brings the company's stack to a cool 815,061 BTC, acquired for roughly $61.56 billion at an average cost basis of $75,527 per coin. With BTC hovering around $75,000 at publication, the position is hovering somewhere in the vicinity of break-even—like a tightrope walker refusing to commit. Strategy, the world's largest publicly-listed Bitcoin accumulator, started treating BTC as a balance sheet asset back in 2020.

The funding came mostly from Strategy's perpetual preferred security, Stretch (STRC), which coughed up $2.18 billion—about 85.7% of the total bill. The remaining slice came from flogging some Class A common stock (MSTR), which contributed $366 million. The company's at-the-market program through STRC set some eyebrow-raising records last week: April 13 became the largest single-day buying binge, snatching approximately 7,741 BTC after selling 11.9 million shares and generating over $1 billion in trading volume. The very next day, April 14, another record fell, with an estimated 9,364 BTC tied to 14.4 million shares sold. Those two days combined brought an estimated 17,204 BTC—a 518% surge compared to the four-week average, like comparing a fire hose to a garden sprinkler.

MSTR shares took a modest hit, down more than 2.5% in pre-market trading after the news dropped. The company also revealed plans to pay STRC dividends twice monthly, with CEO Phong Le describing the move as placing the preferred security in "category one, the only preferred in the world that pays semi-monthly dividends"—calling it "unique and attractive." Saylor had already teased the purchase on Sunday, hinting that another massive Bitcoin acquisition was imminent before the official announcement.