Strategy acquires another 705 bitcoin for $75.1 million, taking total holdings to 580,955 BTC

Bitcoin treasury company Strategy (formerly MicroStrategy) acquired an additional 705 BTC for approximately $75.1 million at an average price of $106,495 per bitcoin between May 26 and June 1, according to an 8-K filing with the Securities and Exchange Commission on Monday.

Strategy now holds a total of 580,955 BTC — worth over $60 billion — bought at an average price of $70,023 per bitcoin for a total cost of around $40.7 billion, including fees and expenses, according to the company’s co-founder and executive chairman, Michael Saylor. That’s the equivalent of around 2.8% of bitcoin’s total 21 million supply and implies around $19.3 billion of paper gains.

The latest acquisitions were made using proceeds from ATM sales of its perpetual strike preferred stock, STRK, and perpetual strife preferred stock, STRF. Last week, Strategy also sold 353,511 STRK shares for approximately $36.2 million and 374,968 STRF shares for $38.4 million, with $20.68 billion worth of STRK shares and $2.05 billion STRF shares remaining available under those programs. No shares of its class A common stock, MSTR, were sold last week, with $18.63 billion remaining under that ATM program.

Strategy’s STRK and STRF perpetual preferred stocks’ respective $21 billion and $2.1 billion ATM programs are in addition to the firm’s “42/42” plan, which targets a total capital raise of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027. That was upsized from its initial $42 billion, “21/21” plan after the equity side was depleted.

Saylor again hinted at the likelihood of another bitcoin acquisition filing ahead of time, sharing an update on Strategy’s bitcoin purchase tracker on Sunday, stating, “Orange is my Preferred Color.” During Bitcoin 2025 in Las Vegas last week, Saylor called onchain proof-of-reserves a “bad idea,” ruling it out for Strategy over security concerns, and later touted bitcoin as “perfected capital” in a keynote speech. 

Strategy portfolio tracker. Image: Saylortracker.com.

Strategy previously acquired an additional 4,020 BTC for approximately $427.1 million at an average price of $106,237 per bitcoin between May 19 and May 25 — taking its total holdings to 580,250 BTC.

Corporate bitcoin accumulation race continues to grow

There are now more than 75 companies that have adopted some form of bitcoin treasury. Last week, Trump Media, GameStop, K33, and Champions League winners Paris Saint-Germain F.C. became the latest to disclose or advance their bitcoin treasuries.

On Thursday, Trump Media announced it had closed its private placement offering, raising net proceeds of more than $2.3 billion to buy bitcoin. A day earlier, GameStop disclosed it had purchased its first 4,710 BTC ($497 million). PSG confirmed at Bitcoin 2025 it had also quietly established a BTC treasury, and European digital asset brokerage and research firm K33 raised $6.2 million to buy bitcoin. 

They join the likes of Tether-backed Twenty One, Semler Scientific, Nakamoto, and KULR in adopting the bitcoin acquisition model pioneered by Strategy and Saylor. Japanese investment firm Metaplanet also disclosed on Monday it had purchased another 1,088 BTC for approximately $117.5 million as its total holdings reached 8,888 BTC ($938 million).

Analysts at Bernstein predict that Strategy and its corporate copycats could add $330 billion to their bitcoin treasuries over the next five years, driven by a more pro-crypto regime in the U.S.

Strategy’s $101 billion market cap continues to trade at a significant premium to its bitcoin net asset value, with some investors airing reservations about the firm’s premium to NAV valuation and its numerous bitcoin acquisition programs. However, Bernstein argues that with Strategy’s relatively low debt levels and no payments due until 2028, the firm’s leverage remains manageable.

MSTR closed down 0.4% on Friday at $369.06, according to The Block’s Strategy price page, amid a week that saw bitcoin retreat around 8% from its $112,000 all-time high before recovering slightly. MSTR is currently down 0.5% in pre-market trading on Monday, per TradingView, having gained 23% year-to-date.

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