Strategy Snags 535 BTC, Nears 820k: You Won’t Believe Why

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Strategy has fallen back into its favourite hobby: turning humble satoshis into something a dragon might politely herd. The latest move is a $43 million grab for 535 Bitcoin, priced at about $80,340 per coin, nudging the hoard perilously close to the 820,000 BTC landmark.

Strategy Has Expanded Its Holdings By Another 535 Bitcoin

As revealed by Strategy co-founder and chairman Michael Saylor on X, the company scooped up 535 more BTC, paying roughly $80,340 a coin – about $43 million in total, which is the sort of arithmetic that makes accountants nod until their glasses fog over.

In terms of scale, the buy is modest by dragon-size standards, but it marks Strategy’s return to accumulation after it chose to skip last Monday’s ritual purchase. Saylor foreshadowed this resumption in his usual Sunday X post with the company’s BTC portfolio tracker, this time sporting the caption, “Back to work.”

Not just that, the purchase arrives after Saylor hinted that the company could participate in some Bitcoin selling. As Bitcoinist reports, the chairman said during the firm’s first-quarter earnings that they will probably sell some of their BTC to fund a dividend just to prove that they could do it.

So far since the statement, the company hasn’t made any such sale. While Strategy selling would be a rare event, it’s not as rare as, say, a unicorn filing tax returns. Back in December 2022, the firm offloaded 704 tokens as the cryptocurrency wallowed in the bearish mood of that year.

According to the filing with the US Securities and Exchange Commission (SEC), the latest acquisition by Strategy was funded mostly by sales of its MSTR at-the-market (ATM) stock offering. A small number of STRC shares were also involved.

Following the purchase, the company’s holdings have grown to 818,869 BTC, creeping toward the 820,000 BTC milestone. Strategy spent a total of $61.86 billion on this stack, which gives it an average cost basis of $75,540. Earlier, Bitcoin had slipped beneath this mark, but the recent recovery rally has meant that the treasury firm is back in the green, like a plant that’s finally photosynthesising again.

Strategy has continued to be the most dominant corporate holder of BTC in the world, as data from BitcoinTreasuries.net shows.

Strategy isn’t the only digital asset treasury company that has aggressively been accumulating. Another name that has established itself in the space is Bitmine, a BTC mining company that pivoted to an Ethereum treasury strategy last year.

Like Strategy, the firm also announces regular Monday buys, but it appears to have skipped out on this week as its new press release hasn’t revealed any acquisitions.

Bitmine chairman Tom Lee noted that the company has decided to slow down its purchases as it has been moving too fast for its original target; the company set a goal to reach 5% of the Ethereum supply by late 2026, but at its pace so far, it would have reached it by just mid-July.

ETH Price

At the time of writing, Ethereum is floating around $2,300, down 0.5% over the last seven days.

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2026-05-12 09:57