MicroStrategy Adds 7,390 Bitcoins to Its Treasury, Spending $764.9M at an Average Price of $103,498 per BTC

The purchase was reported in a Monday filing with regulators.

MicroStrategy (NASDAQ:MSTR) has added 7,390 bitcoins to its treasury at an average price of $103,498 per bitcoin, according to a Monday filing with regulators.

This purchase, completed last week, saw Strategy fund the investment through two main channels: selling shares of its Class A common stock through an at-the-market (ATM) offering and issuing additional Series A STRK preferred stock.

In total, Strategy funded the purchase of 7,390 bitcoins with about $764.9 million in net cash proceeds.

The company sold 1,712,708 shares of its common stock at an average price of $410.99 per share for total proceeds of $705.7 million. These sales took place over the period from May 12 to May 18.

Additionally, Strategy issued 621,555 shares of its 8.00% Series A perpetual preferred stock at an average price of $95.75 per share, generating net cash proceeds of $59.7 million.

The latest purchase now brings the company’s total bitcoin holdings to 576,230 BTC, which is currently valued at roughly $59 billion based on bitcoin’s current market price of around $103,000.

The company also disclosed that it achieved a BTC Yield of 16.3% YTD 2025.

Lowering the Cost Basis

With this latest purchase, Strategy has lowered its overall cost basis. The average purchase price across all of the company’s bitcoin holdings now stands at $69,726 per bitcoin.

The company’s total investment in bitcoin has reached $40.18 billion, making it one of the largest corporate holders of the cryptocurrency in the world.

Strategy still has substantial capacity for further stock sales. According to the filing, $18.98 billion of MSTR shares remain available for sale through the ATM program.

Similarly, $20.79 billion worth of STRK preferred shares are still available for issuance and sale, suggesting the company has ample resources to continue its bitcoin acquisition strategy.

Emerging Legal Challenges

As Strategy continues to expand its bitcoin holdings, the company is facing new legal challenges.

On Monday, May 16, a purported class action lawsuit was filed in the U.S. District Court for the Central District of California against Strategy, Chairman and CEO Michael Saylor, and several other company executives.

The lawsuit alleges that Strategy made false or misleading statements about the expected profitability of its bitcoin investment strategy and failed to disclose fully the risks associated with bitcoin’s price volatility.

The complaint, which seeks unspecified damages, arose from Strategy’s decision to invest heavily in bitcoin beginning in 2015.

The company said it plans to “defend vigorously” against these claims.

Strategy has not yet provided details on how this legal action might affect its ongoing bitcoin treasury strategy. The outcome of the lawsuit and any potential financial impact on the company remain uncertain at this time.

However, the fact that Strategy completed this latest bitcoin purchase even as the lawsuit was being filed suggests a strong commitment to its stated treasury strategy of accumulating more bitcoins.

Bitcoin is currently trading up 0.4% on Monday at a price of $102,907. Meanwhile, shares of MSTR were down more than 1% in pre-market trading following the announcement.

Strategy’s bitcoin holdings now represent a significant portion of its market value. The company has essentially transformed itself from a business intelligence firm into what many consider a bitcoin holding company.

The latest purchase demonstrates Strategy’s continued confidence in cryptocurrency as a treasury asset despite facing legal challenges and bitcoin’s notoriously high volatility.

Stay Ahead of the Market with Benzinga Pro!

Visit Benzinga Pro for a free trial and discover premium investing tools, including advanced charting, real-time news and trade ideas. Uncover investment opportunities with Benzinga Pro.