Strategy Has Acquired 7,390 Bitcoin for Approximately $764.9 Million

The business intelligence firm purchased the Bitcoin at an average price of $103498 per coin between May 12 and May 18, funded through a combination of stock offerings.

U.S. business intelligence firm Strategy has acquired 7,390 Bitcoin (BTC) for approximately $764.9 million, according to a Form 8-K filing with the Securities and Exchange Commission (SEC) on Monday.

The company purchased the Bitcoin at an average price of $103,498 per coin between May 12 and May 18, funded through a combination of stock offerings. The company is known for its aggressive Bitcoin accumulation strategy amid rising institutional adoption of the cryptocurrency.

🇺🇸 STRATEGY BUYS ANOTHER 7,390 #BITCOIN FOR $764 MILLION.

— BITCOIN (@BTC_ARCHIVE) May 14, 2024

Bankrupt crypto lender BlockFi also disclosed a Bitcoin purchase, acquiring 200 BTC for approximately $7.6 million at an average price of $38,000 per coin.

Strategy's latest acquisition brings its total Bitcoin holdings to 576,230 BTC, which is valued at approximately $59 billion at current market prices. The company's average purchase price across all its Bitcoin holdings now stands at $69,726 per coin, with a total investment of $40.18 billion.

The announcement comes as Strategy faces a class action lawsuit filed on May 16 in the U.S. District Court for the Eastern District of Virginia.

The lawsuit, filed by investor Anas Hamza, alleges that the company, along with executives Michael Saylor, Phong Le, and Andrew Kang, made misleading statements about the risks associated with its Bitcoin-focused investment strategy.

The complaint, which covers the period from April 30, 2024, to April 4, 2025, claims the defendants failed to adequately disclose information about the anticipated profitability of their Bitcoin strategy and the potential magnitude of losses following new accounting standards.

Strategy stated in its filing that it "intends to vigorously defend against these claims."

The company has significantly expanded its Bitcoin acquisition program in 2025, utilizing two at-the-market (ATM) offerings to raise a total of $42 billion.

The company established a $21 billion common stock program on May 1 and a $21 billion preferred stock program, both of which have a three-year maturity.

As of May 18, approximately $18.98 billion remains available under the common stock ATM and $20.79 billion under the preferred stock ATM.

Strategy continues to hold the title of the largest corporate holder of Bitcoin, with its holdings representing a significant portion of the total Bitcoin supply in circulation.

The company is focused on converting its excess cash flow and raising additional capital to acquire more Bitcoin, even amid market volatility and legal challenges.

The company's stock price has dropped significantly this year, and investors are becoming increasingly concerned about the company's ability to maintain its Bitcoin buying spree.

However, Strategy remains committed to its Bitcoin strategy, and the company's executives have defended their actions in statements to the media.

Only time will tell how this story unfolds, but one thing is clear: Strategy's Bitcoin holdings have made it one of the most valuable and talked-about companies in the world.

The company's stock price and financial performance will be closely watched by investors in the coming months and years.

As the company continues to convert its cash flow and raise capital to acquire more Bitcoin, it will be interesting to see if the company can maintain its position as the largest corporate holder of Bitcoin and keep up with its impressive pace of Bitcoin accumulation.

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