MicroStrategy Buys 535 BTC, Holdings Reach 818,869

MicroStrategy disclosed in an SEC filing that it purchased 535 Bitcoin between May 4 and May 10 for roughly $43 million, an average of $80,340 per coin.

The purchase brings the company’s total to 818,869 BTC. MicroStrategy’s cumulative Bitcoin cost basis is about $61.9 billion, an average purchase price of $75,540 per coin including fees and expenses. With Bitcoin trading above $81,000, the holdings were valued near $66.5 billion, representing an unrealized gain on paper.

MicroStrategy funds Bitcoin acquisitions primarily through at-the-market sales of securities. Those programs include its Class A common stock (MSTR) and four perpetual preferred-stock at-the-market programs: STRK (about $21 billion capacity), STRC (about $4.2 billion), STRF (about $2.1 billion) and STRD (about $4.2 billion). The company also filed to offer up to an additional $21 billion of Class A shares to increase its capacity to raise capital.

The company has requested permission to pay STRC dividends on a bi-weekly basis instead of monthly, saying more frequent payments could reduce reinvestment lag and support liquidity and price stability for that security.

Co-founder and executive chairman Michael Saylor posted “Back to work” on X after the company paused purchases during the week of its first-quarter earnings. On the earnings call he noted MicroStrategy might sell some Bitcoin to fund STRC dividends or convertible debt payments and added that any sales would likely be small relative to future purchases. He also urged investors to replenish any Bitcoin they spend over time.

Industry data show 196 publicly traded companies have formal plans to hold or buy Bitcoin. MicroStrategy’s Class A stock remains about 59% below its summer 2025 peak and carries an mNAV ratio near 1.04. The stock rose 9.8% last week and closed at $187.