Strategy buys 535 bitcoin for $43 million days after signaling potential BTC sales

Disclosure: The author of this story owns shares in Strategy (MSTR).

Michael Saylor, the executive chairman of Strategy (MSTR), the largest publicly traded corporate holder of bitcoin , announced Monday on X the purchase of 535 bitcoin for roughly $43 million at an average price of about $80,340 per coin

The purchases bring the company’s total holdings to 818,869 BTC, acquired for $61.86 billion at an average cost basis of $75,540. With bitcoin currently trading above $81,000, Strategy's stash is currently in profit.

Last week’s purchases were funded by $42.9 million raised through sales of the company’s preferred stock, according to a May 11 SEC filing.

This purchase follows Strategy’s first-quarter earnings call, where the company said it was prepared to sell bitcoin to repay convertible debt or fund dividend obligations, provided the move remains accretive on a bitcoin-per-share basis.

MSTR shares rose more than 1% in pre-market trading.