Strategy (MSTR) Stock Dips as Saylor Executes $2B Bitcoin Acquisition in Single Week

Key Highlights

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Strategy acquired 24,869 BTC for approximately $2.01 billion during the week of May 11–17, paying an average of $80,985 per bitcoin.
The company’s Bitcoin treasury now totals 843,738 BTC, accumulated for approximately $63.87 billion at an average entry price of $75,700.
Approximately 97% of the funding came from STRC perpetual preferred stock sales, generating around $1.95 billion in proceeds.
Strategy’s Bitcoin position now surpasses BlackRock’s approximately 817,000 BTC held through ETF products.
MSTR shares declined roughly 2.5% during premarket hours Monday, mirroring weakness in Bitcoin markets.

Michael Saylor’s Strategy has reinforced its Bitcoin accumulation strategy with another substantial acquisition. In a Monday SEC Form 8-K filing, the company revealed it purchased 24,869 BTC during the May 11–17 period for approximately $2.01 billion.

Strategy has acquired 24,869 BTC for ~$2.01 billion at ~$80,985 per bitcoin and has achieved BTC Yield of 12.6% YTD 2026. As of 5/17/2026, we hodl 843,738 $BTC acquired for ~$63.87 billion at ~$75,700 per bitcoin. $MSTR $STRC https://t.co/y1zvePEuym
— Michael Saylor (@saylor) May 18, 2026

The acquisition was executed at an average cost of $80,985 per bitcoin, elevating Strategy’s aggregate holdings to 843,738 BTC. Since initiating its Bitcoin strategy in 2020, the company has invested roughly $63.87 billion, establishing an average cost basis of $75,700 per coin.

Based on CoinGecko pricing at time of publication, the company’s Bitcoin position was valued at approximately $65.3 billion, reflecting an unrealized profit on the investment.

MSTR shares experienced a 2.5% decline in premarket activity Monday, correlating with Bitcoin’s pullback to around $77,700.

Strategy Inc, MSTR

Funding Mechanism Behind the Purchase

The acquisition was predominantly financed through the company’s STRC perpetual preferred stock, representing approximately 97% of the total capital raised.

Strategy generated roughly $1.95 billion by distributing approximately 19.5 million STRC units. An additional $83.7 million was secured through the sale of 430,344 Class A common shares.

This capital structure mirrors recent major acquisitions. A previous 34,164 BTC purchase—Strategy’s third-largest transaction to date—was similarly funded primarily through preferred securities rather than diluting common shareholders.

STRC Live had documented significant preferred stock trading activity throughout the week, including a record-breaking single-day volume of 15.1 million shares, with estimated BTC purchases reaching approximately 15,466 coins.

Strategy Overtakes BlackRock in Total Bitcoin Holdings

With 843,738 BTC, Strategy’s treasury now exceeds BlackRock’s roughly 817,000 BTC position, which the investment giant manages for clients through its Bitcoin ETF offerings.

This differential has expanded with each subsequent Strategy purchase, solidifying the company’s status as the world’s largest publicly traded corporate Bitcoin holder.

Saylor has executed 109 separate Bitcoin acquisition transactions since 2020, a milestone he has publicly documented through visual representations demonstrating the company’s persistent accumulation approach.

The most recent purchase arrived one week following Saylor’s surprising comments during Strategy’s earnings conference call, where he discussed the possibility of future Bitcoin sales. He characterized potential selling as a mechanism to better preserve the asset’s long-term value proposition, seemingly moderating the company’s historical “never sell” philosophy.

He contended that maintaining an overly rigid holding position could eventually undermine the very asset the strategy was designed to support.

For the present, however, the accumulation pattern persists. Strategy has not announced any Bitcoin dispositions to date.