Strategy Boosts Bitcoin Stash to 576,230 BTC With Latest $764.9M Purchase

As has become the norm, Michael Saylor’s multi-billion dollar business intelligence firm, Strategy, has announced another massive bitcoin (BTC) purchase. This time, the company bought 7,390 BTC.

According to Saylor’s tweet, the latest acquisition cost approximately $764.9 million, as each coin was purchased at roughly $103,498 each. As of May 18, the largest corporate Bitcoin holding entity held a stash of 576,230 BTC worth about $40.18 billion for $69,726 per coin.

Another Multi-Million Dollar BTC Buy

In a Form 8-K filing with the United States Securities and Exchange Commission (SEC), Strategy revealed that the funds used in buying the bitcoins were proceeds from the sale of its MSTR and STRK shares.

Between May 12 and 18, the company sold 1.712 million MSTR shares for $705.7 million. It also offloaded about 621,555 STRK shares for $59.7 million during the same period. 

The MSTR sales are part of a Class A common stock at-the-market (ATM) program, geared toward raising $21 billion for more BTC acquisitions and corporate expenses. The STRK sale is tied to an 8.00% Series A perpetual strike preferred stock offering, targeted at raising an additional $21 billion for similar reasons.

Before Strategy submitted the filing with the SEC, the company had about $18.98 billion of MSTR shares and $20.79 billion of STRK stock available for issuance and sale. This implies that there would be more BTC purchases as time goes on. Saylor noted that the company has achieved a BTC yield of 16.3% year-to-date.

Strategy Faces Class Action Suit

Meanwhile, one Anas Hamza has filed a class action lawsuit against Strategy in the United States District Court for the Eastern District of Virginia. The lawsuit names Saylor, the company’s executive chairman, CEO Phong Le, and chief financial officer Andrew Kang, as defendants.

The class action alleges that Saylor, Le, Kang, and Strategy violated certain provisions in the Securities Act by making misleading statements about their Bitcoin investment strategy. The plaintiff also claims the defendants failed to disclose information regarding the profitability and risks of their treasury operations from April 30, 2024, to April 4, 2025.

Strategy disclosed that the complaint seeks unspecified damages, including interest, attorneys’ fees, and other relief. Regardless of the suit’s outcome, the company intends to “vigorously defend” itself against the claims.

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