Timothy Morano
May 18, 2026 13:08
Strategy boosts Bitcoin (BTC) holdings to 843,738 BTC with a $2.01B purchase, funded mostly via STRC stock sales. BTC trades near $77,588.
Michael Saylor’s Strategy has reinforced its position as the largest public Bitcoin holder with a $2.01 billion purchase last week. The acquisition of 24,869 BTC between May 11 and May 17 brings the company’s total holdings to 843,738 BTC, according to an SEC filing dated May 18. At Bitcoin’s current price of $77,588, the stash is valued at roughly $65.3 billion.
The purchase was executed at an average price of $80,985 per BTC, slightly above current market levels. This raises Strategy’s average cost basis to approximately $75,700 per Bitcoin, reflecting a long-term commitment to the asset despite near-term price fluctuations.
Funding Via STRC Stock Sales
Nearly all of the purchase—97%—was funded through the sale of Strategy’s STRC perpetual preferred stock. The company raised $1.95 billion from selling 19.5 million STRC shares during the period, while an additional $83.7 million was generated through the sale of 430,344 shares of its Class A common stock (MSTR).
This structure mirrors previous purchases made by Strategy, including its third-largest buy earlier this year, when it acquired 34,164 BTC. Preferred securities continue to play a central role in funding these acquisitions, minimizing dilution of common stockholders.
Market Context
Bitcoin has seen substantial volatility in May 2026. After touching $82,000 earlier in the month, it has pulled back to the $77,000–$79,000 range, including a 0.90% decline over the past 24 hours. The broader crypto market has shown weakness, with over $700 million in liquidations across major assets like Ethereum, XRP, and Solana on May 17.
Despite this short-term consolidation, Bitcoin remains up 3.86% month-to-date as of May 18, supported by bullish sentiment tied to the post-halving cycle. Institutional moves, like Strategy’s latest acquisition, continue to signal confidence in Bitcoin’s long-term trajectory.
Why It Matters
Strategy’s aggressive accumulation further solidifies its dominance among institutional Bitcoin holders, now surpassing BlackRock’s 817,000 BTC held on behalf of its clients. The move underscores a growing institutional appetite for Bitcoin, even as volatility persists and macroeconomic uncertainties loom.
In a recent earnings call, Saylor hinted at a more flexible long-term strategy for Bitcoin management, suggesting that the company could consider selling Bitcoin under certain conditions to protect its value. This marks a departure from the previously rigid “never sell” stance, adding nuance to Strategy’s role as a market bellwether.
For traders, Strategy’s actions provide a key data point on institutional sentiment and market dynamics. While Bitcoin remains below the critical $80,000 level, large-scale purchases like this often act as a psychological and technical floor, bolstering confidence among retail and institutional investors alike.
All eyes will remain on Bitcoin’s price action in the coming weeks, particularly if it can reclaim the $80,000 threshold and sustain upward momentum. For now, Strategy’s continued buying spree sends a clear signal: institutional interest in Bitcoin as a long-term asset remains robust.
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