Saylor’s Strategy Just Spent $427 Million More on Bitcoin

• The company acquired an additional 4,020 BTC for approximately $427.1 million, at an average price of $106,237 per coin
• Its Bitcoin holdings represent approximately 2.9% of the total circulating supply of the cryptocurrency
• The firm was hit with a class-action lawsuit, alleging that Strategy and its executives made misleading statements regarding the profitability of their Bitcoin investment strategy

MicroStrategy, now operating under the trade name Strategy, has further solidified its position as the largest corporate holder of Bitcoin. The company acquired an additional 4,020 BTC for approximately $427.1 million, at an average price of $106,237 per coin. With this acquisition, it now holds a total of 580,250 Bitcoins.

To finance this latest purchase, Strategy utilized proceeds from its at-the-market (ATM) equity offering. Namely, it sold: 

• 847,000 shares of MSTR common stock, raising $348.7 million
• 678,970 shares of STRK preferred stock, raising $67.9 million
• 104,423 shares of STRF preferred stock, raising $10.4 million

The organization’s aggressive accumulation strategy has resulted in its Bitcoin holdings representing approximately 2.9% of the cryptocurrency’s total circulating supply, with the Strategy’s year-to-date Bitcoin yield standing at 16.8%.

Still, not all is well considering that the firm was hit with the class-action lawsuit. It’s alleged that Strategy and its executives made misleading statements regarding the profitability of their Bitcoin investment strategy. The lawsuit is in the early stages, but the corporate Bitcoin whale has stated its intention to vigorously defend against these claims.

MicroStrategy and Bitcoin 

The development company has consistently leveraged its equity to fund Bitcoin acquisitions for quite some time now. 

For instance, in mid-December, Strategy raised $561 million by selling 1.3 million shares, which it used to purchase 5,262 BTC at an average price of $106,662 per coin. Then, in late December, it sold 592,987 shares for $209 million, acquiring 2,138 BTC at an average price of $97,837 per coin.

Despite all of these investments, Strategy reported a $5.91 billion unrealized loss on its digital assets for the first quarter of 2025, leading to a big decline in its stock price. This prompted Pomerantz LLP to investigate potential securities fraud or other unlawful business practices by the organization and its leaders.

It should be noted that this isn’t the first time the firm had legal trouble. Last year, Executive Chairman, Michael Saylor, settled a tax fraud case with the Washington, D.C. Attorney General’s office for $40 million. The settlement addressed allegations that Saylor evaded over $25 million in income taxes by falsely claiming residency in lower-tax jurisdictions, despite residing in Washington, D.C.

As of the latest trading session, Strategy’s stock (NASDAQ: MSTR) is priced at $369.51, a decrease of $30.10 (-7.5%) from the previous close.