Strategy $427 Million Bitcoin Purchase Expands Holdings to Over 580,250 BTC

On May 26, Strategy, the Virginia-based firm formerly known as MicroStrategy, announced the acquisition of 4,020 Bitcoin (BTC) for approximately $427.1 million, bringing its total holdings to 580,250 BTC. This purchase, executed at an average price of $106,237 per BTC, underscores the company’s unwavering commitment to accumulating Bitcoin as a core treasury asset. The move comes amid Bitcoin’s price climbing above $110,000, driven by institutional interest and macroeconomic developments.

Details of the Acquisition

Strategy’s recent purchase was funded through a combination of equity sales. The company raised $348.7 million by selling 847,000 shares of its Class A common stock (MSTR) under its $21 billion share sale program, which began on May 1, 2025. Additionally, Strategy sold 678,970 shares of STRK for net proceeds of $67.9 million and 104,423 shares of STRF for net proceeds of $10.4423 million. This strategic financing approach has allowed Strategy to consistently expand its Bitcoin portfolio, with the firm now holding an estimated $63.2 billion in BTC, based on current market prices.

The acquisition follows a pattern of aggressive Bitcoin accumulation by Strategy. Just a week prior, the company purchased 7,390 BTC for $764.9 million, financed through a mix of MSTR common stock ($705.7 million) and STRK preferred stock ($59.7 million). Earlier in May, Strategy acquired 13,390 BTC for $1.34 billion, bringing its year-to-date Bitcoin yield to 16.8%. These consistent purchases highlight Strategy’s long-term strategy of leveraging equity markets to bolster its crypto reserves.

Strategy’s Bitcoin Strateg and Challenges

Strategy, led by CEO Michael Saylor, has positioned itself as a pioneer in corporate Bitcoin adoption. Since 2020, the company has treated BTC as a primary treasury reserve asset, a strategy that has paid off with unrealized gains as Bitcoin’s price has soared. With 580,250 BTC, Strategy now holds more Bitcoin than most institutional investors, trailing only BlackRock’s 655,571 BTC as of press time. The firm’s aggressive accumulation has sparked debate about its influence on Bitcoin’s price and market dynamics.

On one hand, the rising price of Strategy’s MSTR stock reflects market approval of its aggressive Bitcoin reserve strategy. Since adopting the Bitcoin reserve strategy, MSTR’s stock price has surged over 2,800%. Year-to-date, MSTR’s stock price has increased by 23.17%. Strategy is regarded as a model for early Bitcoin adopters.

On the other hand, Strategy faces a class-action lawsuit due to its Bitcoin accumulation strategy. On May 16, 2025, Strategy disclosed a class-action lawsuit filed in the U.S. District Court for the Eastern District of Virginia, alleging that the company downplayed Bitcoin’s volatility risks while overstating the profitability of its investments. Influenced by this lawsuit and other factors, MSTR’s stock price dropped by up to 11.37% over the past week.

Broader Institutional Bitcoin Adoption Trends

Strategy’s Bitcoin journey began in August 2020, when it made its first BTC purchase as a hedge against inflation and currency devaluation. Since then, the company has raised billions through equity and debt offerings to fund its crypto investments, a model that has inspired other firms to follow suit. For example, Europe-based The Blockchain Group announced on May 26 that it raised $72 million through convertible bonds to expand its Bitcoin reserve strategy.

According to HODL15Capital, the top 85 companies globally holding Bitcoin currently own over 800,000 BTC, accounting for more than 3.8% of Bitcoin’s total supply of 21 million coins. This figure continues to grow.

Looking Ahead

Strategy’s latest acquisition reinforces its position as a dominant player in the corporate Bitcoin space. As Bitcoin continues to test all-time highs, driven by institutional inflows and macroeconomic shifts, Strategy’s moves are likely to remain a focal point for investors and crypto enthusiasts alike. While the firm’s equity-funded approach carries risks, its track record suggests a calculated bet on Bitcoin’s future.

For now, Strategy’s 580,250 BTC holdings cement its role as a bellwether for corporate crypto adoption, with the market watching closely for its next move.