Michael Saylor’s public company, Strategy, makes another large Bitcoin purchase, according to a U.S. Securities and Exchange Commission (SEC) filing. The company bought 24,869 BTC between May 11 and May 17 for about $2.01 billion, at an average price of $80,985 per Bitcoin. This increases Strategy’s total Bitcoin holdings to 843,738 BTC. The filing and related reporting put the company’s current cost basis at about $75,700 per BTC. Based on third-party market data cited in coverage, the holdings are valued at roughly $65.3 billion at the time of publication.
Strategy finances the acquisition mainly through the sale of its STRC perpetual preferred stock. The SEC filing says STRC sales generate about $1.95 billion from roughly 19.5 million shares, which accounts for around 97% of total purchase funding, while sales of Strategy’s Class A common stock contribute a smaller share (about $83.7 million net from 430,344 shares).
The purchase follows the pattern of several prior large BTC buys this year, using preferred securities rather than primarily issuing common equity.