Strategy (MSTR) Stock Up 10% Last Week as Bitcoin Buying Resumes

TLDR

• Strategy bought 535 BTC for ~$43 million between May 4–10, at an average price of $80,340 per coin.
• Total holdings now sit at 818,869 BTC, acquired for ~$61.9 billion at an average cost of $75,540.
• The purchase was funded by at-the-market sales of MSTR common stock and preferred stock.
• Michael Saylor acknowledged Strategy may sell some bitcoin to meet dividend obligations, but said buying would far outpace any sales.
• MSTR gained 9.8% last week and closed Friday at $187.59; it was up ~0.67% in pre-market Monday.

Strategy (MSTR) is back buying bitcoin. The company purchased 535 BTC for approximately $43 million between May 4 and May 10, according to an SEC filing dated May 11.

The average price paid was $80,340 per coin. With bitcoin trading above $81,000, the position is currently in profit.

The latest buy was funded through at-the-market sales of the company’s Class A common stock (MSTR) and its perpetual Stretch preferred stock (STRC), raising roughly $42.9 million in proceeds.

Strategy Inc, MSTR

This brings Strategy’s total bitcoin holdings to 818,869 BTC, bought for around $61.9 billion at an average cost basis of $75,540 per bitcoin. At current prices, those holdings are worth roughly $66.5 billion.

Strategy now holds more than 3.9% of bitcoin’s total capped supply of 21 million coins.

Saylor Returns to Buying After Earnings Pause

Strategy reported a $12.7 billion net loss in Q1, largely due to a $14.5 billion unrealized markdown on its bitcoin holdings under new accounting rules.

During the earnings call, Saylor said Strategy could sell some bitcoin to meet dividend obligations tied to its STRC preferred stock or to repay convertible debt.

Capital Programs Keep Expanding

To fund ongoing purchases, Strategy has been growing its capital-raising machine. The company runs several at-the-market preferred stock programs — STRK, STRC, STRF, and STRD — with combined capacity running into the tens of billions of dollars.

These sit alongside the broader “42/42” capital plan, which targets $84 billion through equity offerings and convertible notes.

Strategy recently extended those programs further, adding up to $21 billion in new MSTR stock alongside additional preferred stock offerings.

STRC has become a key vehicle in recent bitcoin buys. It carries an annualized dividend rate of 11.5% and is designed to trade near its $100 par value. Strategy has also proposed shifting its dividend schedule from monthly to twice monthly.

MSTR gained 9.8% last week and closed Friday at $187.59. The stock was up around 0.67% in pre-market trading following Monday’s announcement. The stock is still down roughly 59% from its summer 2025 highs, with an mNAV ratio of 1.04.

According to Bitcoin Treasuries data, 196 public companies have now adopted some form of bitcoin acquisition strategy.

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