Said it would buy Bitcoin... Strategy acquires an additional 535 BTC

▲ Bitcoin (BTC)/AI Generated Image

Strategy has resumed its purchase of Bitcoin (BTC). After Chairman Michael Saylor mentioned that some Bitcoin might be sold to pay dividends, which drew mixed reactions from investors, the company once again acquired $43 million worth of Bitcoin, continuing its existing accumulation strategy.

Cointelegraph reported on May 11 (local time) that Strategy purchased 535 BTC for $43 million last week. The company acquired Bitcoin at an average purchase price of $80,340 from May 4 to May 10, and this purchase was disclosed through documents submitted to the U.S. Securities and Exchange Commission (SEC).

With this purchase, Strategy's total Bitcoin holdings increased to 818,869 BTC. The total amount invested by the company to secure these holdings, including fees and expenses, is approximately $61.86 billion, with an average purchase price of $75,540 per BTC.

This acquisition is the first additional purchase since April 27. At that time, Strategy bought 3,273 BTC for $255 million. Subsequently, in its first-quarter earnings announcement, the company mentioned the possibility of selling some Bitcoin to pay dividends, a statement that led to market debate over whether Strategy's long-term holding strategy was wavering.

According to Cointelegraph, the funds for this Bitcoin purchase were raised from stock sales. Most of it, $42.9 million, was secured through the sale of Class A common stock MSTR, and the remaining $100,000 was raised through the issuance of Stretch (STRC) stock. Saylor had hinted at the possibility of resuming Bitcoin purchases on Sunday after a buying hiatus the previous week.

Strategy's stock price rose in Monday's pre-market trading after the Bitcoin purchase was announced. Cointelegraph reported that investor concerns still remain. Some investors believed that Strategy's Bitcoin sales could increase fears of a cascade liquidation, but Bitcoin proponent Samson Mow assessed that potential sales could expand the company's ability to respond to the market.

Following Saylor's remarks, the possibility of Strategy selling Bitcoin became a major market concern. However, the company once again demonstrated that it has not halted its holding strategy through an additional purchase of $43 million. This transaction shows that Strategy is maintaining its Bitcoin accumulation stance despite the controversy surrounding dividend funding.

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