Microstrategy Resumes Aggressive Bitcoin Buying Amid Market Volatility

Strategy Inc., the parent company of Microstrategy, has resumed its aggressive bitcoin buying spree after temporarily halting purchases due to quarterly earnings. The company acquired 535 BTC for approximately $43 million between May 4 and May 10 at an average price of $80,340 per coin.

The purchase was funded through at-the-market sales of the company's Class A common stock (MSTR) and its perpetual Stretch preferred stock (STRC), raising roughly $42.9 million in proceeds. This brings Strategy's total bitcoin holdings to 818,869 BTC, bought for around $61.9 billion at an average cost basis of $75,540 per bitcoin.

At current prices, those holdings are worth roughly $66.5 billion, making up more than 3.9% of bitcoin's total capped supply of 21 million coins. This significant holding has raised questions about the potential impact on the company's dividend obligations and convertible debt repayments.