Michael Saylor’s Strategy bought another $2 billion in Bitcoin, pushing total holdings to 843,738 BTC amid market weakness.
The world’s largest corporate Bitcoin holder, Strategy, has once again expanded its massive BTC treasury, purchasing over $2 billion worth of Bitcoin while the broader crypto market remains under heavy selling pressure near the $80,000 level.Despite the massive institutional buying, Bitcoin continues struggling below the $78,000 level, with the cryptocurrency still down nearly 5% over the past week.
According to a new SEC filing released Monday, Strategy acquired 24,869 Bitcoin between May 11 and May 17 for roughly $2.01 billion.
The purchases were made at an average price of around $80,985 per Bitcoin.
Following the latest acquisition, Strategy now holds approximately 843,738 BTC purchased for a total cost of about $63.87 billion.
At current market prices, the company’s Bitcoin treasury is valued at roughly $65.3 billion.
The latest buying spree happened while Bitcoin traded near the $80,000 level before later falling toward $77,000 amid broader crypto market weakness.
Most of Strategy’s latest Bitcoin purchase was funded through sales of its STRC perpetual preferred stock.
According to the company filing, STRC share sales generated nearly $1.95 billion, covering about 97% of the total Bitcoin purchase. In comparison, Strategy raised only about $83.7 million from selling regular company shares.
This has now become Strategy’s main method for buying Bitcoin, as the company increasingly uses preferred stock sales instead of relying heavily on normal stock offerings.
As of now, Strategy’s Bitcoin holdings surpass those managed by BlackRock on behalf of clients through its ETF products.
The aggressive accumulation strategy continues making Michael Saylor one of Bitcoin’s most influential institutional supporters.
Still, critics, including Peter Schiff, continue warning that Strategy’s highly leveraged Bitcoin-focused approach could face major risks if BTC enters a prolonged bear market.
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