MicroStrategy Adds 7,390 Bitcoins to its Corporate Treasury in a Transaction Worth $764.9M

Strategy added 7,390 bitcoins to its corporate treasury between May 12 and May 18, in a transaction worth $764.9 million.

TL;DR: MicroStrategy has continued its massive bitcoin purchases, adding 7,390 BTC for $764.9 million in a single transaction. This brings the company's total holdings to 576,230 BTC, or over 2.7% of the cryptocurrency's total supply. The average purchase price was around $103,498, higher than the historical average cost of $69,726. To fund the operation, MicroStrategy sold over 1.7 million class A shares for $705.7 million and 621,555 perpetual preferred STRK shares for $59.7 million. These sales are part of its "42/42" plan to raise $84 billion in equity and convertible debt to buy bitcoin until 2027. The company still has nearly $39.8 billion in class A shares and STRK available for future issuances.

This latest acquisition follows a previous buy of 13,390 BTC for $1.3 billion earlier in May, pushing the total purchased over the past six months to more than 303,000 bitcoins. The strategy led by founder and executive chairman Michael Saylor continues to set the pace for corporate treasuries adopting bitcoin as a primary reserve asset.

Insular interest in this model keeps expanding. Japanese investment firm Metaplanet acquired 1,004 bitcoins for $104.3 million, increasing its reserves to 7,800 BTC. Brazilian fintech Méliuz added 274.5 bitcoins for $28.4 million after securing shareholder approval. Basel Medical Group announced plans to acquire $1 billion in bitcoin, while G.D Culture Group and Nakamoto Holdings also unveiled new acquisition programs funded through stock offerings and convertible notes.

Analysts at Bernstein estimate that companies with similar strategies could inject up to $330 billion into bitcoin over the next five years. However, despite the cryptocurrency's price remaining close to record highs, some analysts believe that the aggressive buying pace could slow down eventually.

MicroStrategy also reported a $4.2 billion net loss for the first quarter, driven by accounting adjustments requiring unrealized losses to be recorded. Nonetheless, the company maintains manageable debt levels, with no significant maturities until 2028.