Strategy buys another $43 million worth of Bitcoin as holdings climb near 819,000 BTC

Strategy (NASDAQ: MSTR) has bought 535 more Bitcoins for about $43 million, taking its total holdings to 818,869, just shy of 819,000.

Strategy spent $240,000 from May 4 to May 10 to buy these Bitcoins. This was reported in a U.S. Securities and Exchange Commission (SEC) filing and revealed that Strategy bought these at an average of $80,340 per Bitcoin in this current bunch.

After the latest buy, the company’s full Bitcoin stack cost about $61.9 billion, with an average purchase price of $75,540 per BTC, including fees and expenses. With Bitcoin recently above $81,000, the stash was worth about $66.5 billion, putting the position in profit on paper.

Strategy uses MSTR and preferred stock programs to fund more Bitcoin purchases

Strategy now owns more than 3.9% of Bitcoin’s 21 million supply cap, and will use stocks, preference shares, and debt-tied instruments to buy into 2027.

The cash came mainly from at-the-market sales of company securities, including Strategy’s Class A common stock, MSTR, and its perpetual Stretch preferred stock, STRC.

Strategy has at-the-market programs tied to four perpetual preferred stocks; STRK (which has a $21 billion program), STRC (which has $4.2 billion), STRF (which has $2.1 billion), and STRD (which has $4.2 billion).

The firm has also increased its room to raise money, recently issuing another up to $21B MSTR share offering in addition to its STRC and STRK security offerings.

STRC has now become a major component of its Bitcoin purchase mechanism.

Strategy has requested to move dividends on STRC to a bi-weekly rather than monthly basis, noting that the move “could result in reduced reinvestment lag, greater liquidity, efficiency, and increased price stability.”

Michael Saylor says Strategy may sell some Bitcoin while buying more

Before the latest Bitcoin purchase was made public, Strategy co-founder and executive chairman Michael Saylor posted his regular Bitcoin tracker update on X. He wrote, “Back to work,” after the company skipped buying the week before its first-quarter earnings release.

Cryptopolitan had reported about a week ago that Strategy saw a $12.7 billion net loss for the first quarter of 2026, with most of that coming from a $14.5 billion unrealized markdown tied to the value of its Bitcoin holdings.

During the first-quarter earnings call, Michael said Strategy could sell Bitcoin later if it needs cash for STRC dividends or convertible debt payments. “We’ll probably sell some Bitcoin to fund the dividend, just to inoculate the market, just to send the message that we did it,” he said.

Over the weekend, Michael said any sale would likely be smaller than later purchases. “In these periods, even if we were to sell one Bitcoin, we’d be buying 10 to 20 more Bitcoin,” he said. “You should be a net accumulator of Bitcoin. When I said ‘never sell your Bitcoin,’ I mean make sure if you were to spend it on something, you replenish in the time you spend it.”

The Bitcoin treasury trade is no longer just a Strategy thing. Bitcoin Treasuries data shows 196 public companies now have some type of Bitcoin buying plan. Still, many of those stocks have dropped hard from their summer 2025 highs as market cap-to-net asset value ratios came down.

Strategy’s MSTR is still about 59% below those highs, with an mNAV ratio of 1.04. The stock rose 9.8% last week and closed Friday at $187.