Global corporate intelligence firm Strategy, formerly known as MicroStrategy, has once again expanded its Bitcoin treasury. According to an 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC), the company purchased an additional 705 BTC between May 26 and June 1, spending approximately $75.1 million at an average price of $106,495 per Bitcoin.
This acquisition increases Strategy's total Bitcoin holdings to 580,955 BTC. At current market valuations, this portfolio is worth over $60 billion. Since adopting its Bitcoin-focused treasury strategy in 2020, the company has invested a cumulative $40.7 billion, inclusive of fees and associated costs. Their average purchase price sits at $70,023 per Bitcoin, resulting in an unrealized gain of approximately $19.3 billion.
Notably, a company originally in the business intelligence software sector now controls roughly 2.8% of Bitcoin's total fixed supply of 21 million coins, cementing its position as the most significant corporate player in the Bitcoin market.
How Strategy Funds Its Bitcoin Purchases
The capital for this latest purchase was not sourced from operational earnings or debt. Instead, Strategy utilized proceeds from the sale of its perpetual preferred shares, specifically the STRK and STRF series. Last week, the firm sold 353,511 STRK shares, raising $36.2 million, and 374,968 STRF shares, raising $38.4 million. The entirety of these funds was allocated to acquiring more Bitcoin.
Strategy still has substantial remaining capacity for future acquisitions through these instruments. The company has $20.68 billion in untapped STRK issuance capacity and $2.05 billion remaining in its STRF allocation. Importantly, the company did not initiate any new issuance of its common stock (MSTR) for this purchase and retains an available capacity of $18.63 billion for that avenue.
A Change in Acquisition Pace
While Strategy continues to accumulate, the scale of this purchase is notably smaller than its previous week's activity, which involved a major acquisition of 4,020 Bitcoin. This apparent slowdown in buying momentum has attracted analyst attention.
Research firm K33 suggests this cautious approach may be linked to the narrowing premium of MSTR's stock price relative to the underlying value of its Bitcoin holdings. This dynamic makes Strategy more deliberate when utilizing its "At-the-Market" (ATM) equity offering strategy to raise capital for purchases.
Furthermore, the landscape is becoming more competitive. A growing number of corporations are now pursuing similar Bitcoin treasury strategies, following Strategy's pioneering lead. This has intensified the corporate race to accumulate Bitcoin, making available supply on the market more precious.
The Growing Corporate Bitcoin Treasury Trend
Data indicates that over 75 public companies worldwide have now adopted Bitcoin as a core part of their treasury management strategy. The trend has accelerated markedly, with several major firms announcing significant entries into the market just in the past week.
High-profile announcements include Trump Media & Technology Group (TMTG), which secured over $2.3 billion through a private placement with plans to allocate a portion to Bitcoin. Video game retailer GameStop also disclosed its maiden crypto investment, revealing a purchase of 4,710 BTC for $497 million.
The movement is global. European asset manager K33 raised $6.2 million dedicated solely to Bitcoin conversion. Even the renowned football club Paris Saint-Germain (PSG) announced at the 2025 Bitcoin Conference that it has added Bitcoin to its financial reserves.
Japanese investment firm Metaplanet also joined the fray, announcing a purchase of 1,088 BTC, bringing its total holdings to 8,888 BTC.
According to projections from international investment bank Bernstein, if regulatory conditions remain stable and corporate asset allocation strategies continue to evolve, global companies could inject an additional $330 billion into Bitcoin over the next five years. This wave of corporate capital is poised to become a major foundational support for the asset's price.
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Frequently Asked Questions
Why did Strategy buy more Bitcoin?
Strategy executes a consistent corporate strategy to hold Bitcoin as its primary treasury reserve asset. This purchase continues that long-term policy, using capital raised from specific financial instruments designed for this purpose.
How does Strategy afford to buy so much Bitcoin?
The company does not use operational cash flow or traditional debt. Instead, it strategically raises capital by issuing equity, specifically different classes of perpetual preferred shares (STRK, STRF), and uses the proceeds exclusively to acquire Bitcoin.
What does a 'slower' purchase pace indicate?
A smaller purchase does not necessarily indicate a change in strategy. It can reflect market conditions, the price of Bitcoin at the time, the available capital from recent fundraising rounds, and increased competition from other corporations buying Bitcoin.
Is this trend of companies buying Bitcoin growing?
Yes, it is a rapidly accelerating trend. Over 75 public companies now hold Bitcoin on their balance sheets, with new entrants from various industries announcing acquisitions regularly, signaling a major shift in corporate treasury management.
What impact does corporate buying have on Bitcoin's price?
Large, consistent purchases from institutions like Strategy reduce the available supply of Bitcoin on the market. This, coupled with growing demand, creates a powerful upward pressure on price over the long term, as noted by analyst firms like Bernstein.
Disclaimer: This article is for informational purposes only. It is not offered as investment advice and should not be relied upon for making investment decisions.