Strategy Labs Doubles Down on Bitcoin, Acquiring 1,895 BTC Worth $180.3M

Business intelligence firm Strategy (NASDAQ:MSTR) has further solidified its position as the largest corporate holder of Bitcoin with a substantial purchase of 1,895 BTC, valued at approximately $180.3 million.

This latest buy, disclosed in a Monday filing with the U.S. Securities and Exchange Commission (SEC), saw Strategy acquire the Bitcoin at an average price of $95,167 per coin.

As of May 4, Strategy’s total BTC holdings now stand at 555,450 BTC, acquired for roughly $38.08 billion, with an average cost basis of $68,550 per Bitcoin.

The purchase was funded via capital raised from both common and preferred stock sales.

Specifically, Strategy sold common stock through its at-the-market (ATM) offering, raising $128.5 million, and also sold preferred shares (STRK) for a capital infusion of $51.8 million.

This transaction saw the firm fully deploy its earlier $21 billion ATM program, which commenced last year.

Moreover, Strategy announced the launch of a new $21 billion ATM offering and the expansion of its debt purchase program to $42 billion.

At current prices of around $94,000 per BTC, Strategy’s holdings are worth over $52 billion, representing 2.64% of Bitcoin’s maximum supply.

At the beginning of this year, Strategy’s BTC holdings accounted for approximately 1.3% of Bitcoin’s circulating supply.

However, with its persistent accumulation over the past five months, Strategy’s Bitcoin stash has grown to represent a substantial 0.8% of the cryptocurrency’s total supply.

For instance, in the first quarter of 2025, Strategy’s BTC purchases alone outpaced the net realized capital gains from cryptocurrency in the entire U.S.

Despite the impressive scale of Strategy’s Bitcoin holdings, it’s worth noting that they are still relatively small compared to the total value of outstanding Bitcoin.

As of May 4, Strategy’s BTC holdings amounted to about 0.27% of the cryptocurrency’s circulating supply.

Nevertheless, Strategy’s persistent focus on Bitcoin accumulation has positioned the firm as a key institutional player in the evolving digital asset landscape.