Strategy buys 535 BTC for $43M after hinting potential BTC sales
Michael Saylor’s Strategy (MSTR) announced it bought 535 BTC for about $43 million last week, at an average price of ~$80,340 per coin. This follows a May 11 SEC filing stating the purchases were funded by ~$42.9 million raised through preferred stock sales.
Strategy’s total BTC holdings now reach 818,869 BTC, acquired for $61.86 billion at an average cost basis of $75,540. With BTC trading above $81,000 at the time of the announcement, Strategy’s BTC position is reportedly in profit.
The buy comes after Strategy’s Q1 earnings call, where the company said it could sell BTC to repay convertible debt or meet dividend obligations, as long as any sales remain accretive on a “bitcoin per share” basis.
MSTR shares rose more than 1% in pre-market trading.
Bullish
The news is mildly bullish because Strategy is still actively accumulating BTC even after signaling it may sell BTC for liabilities. Net buyers (535 BTC added) tend to support sentiment and reinforce the “BTC treasury” narrative, especially when purchases are funded externally (preferred stock) rather than by forced liquidation.
In the short term, traders may treat the SEC-funded buy as a positive catalyst for BTC and for MSTR equity, consistent with past periods when large corporate BTC additions lifted risk appetite. In the longer term, the company’s willingness to sell BTC keeps a ceiling on the momentum: if BTC-per-share accretion fails, sales could resume and add supply risk.
Overall, the immediate flow is accumulation, while the longer-horizon uncertainty is the potential for future BTC sales tied to debt/dividend needs—so the balance leans bullish rather than fully euphoric.