According to Form 8-K filed with the SEC on Monday, the strategy acquired 7,390 bitcoins for approximately $769 million as the company continued its aggressive bitcoin accumulation strategy amid the increase adopted by institutions.
The business intelligence company purchased Bitcoin at an average price per coin between May 12 and May 18, and funded through a stock portfolio. The company provided $705.7 million through Class A common stock (ATM) and raised $59.7 million through issuance of 621,555 shares of Series ASTRK preferred stock.
The latest acquisition raises the strategy’s total Bitcoin holdings to 576,230 BTC, worth approximately $5.9 billion at current market prices. The company’s average purchase price in all its Bitcoin holdings is now $69,726 per coin, with a total investment of $40.18 billion.
The announcement comes in a class action lawsuit filed in the U.S. District Court on May 16 against the Eastern District of Virginia. Anas Hamza’s lawsuit alleges that the company, along with executives Michael Saylor, Phong Le and Andrew Kang, made misleading statements about the risks associated with its Bitcoin-focused investment strategy.
The complaint covers the period from April 30, 2024 to April 4, 2025, claiming that the defendant failed to fully disclose information about the expected profitability of his Bitcoin strategy and the potential magnitude of losses after the new accounting standards. The strategy stated in the submission that “the intention is to defend these claims effectively”.
The strategy significantly expanded its Bitcoin acquisition program in 2025, leveraging two ATM products, totaling $42 billion – the $21 billion common stock program established on May 1 and a $21 billion preferred stock program. As of May 18, approximately $18.98 billion under common stock ATMs could receive $20.79 billion under preferred ATMs.
Strategy maintains its position as the largest company holder of Bitcoin, whose holdings account for a large part of the total Bitcoin supply issued. Despite market volatility and legal challenges, the company continues to implement its strategy of converting excessive cash flows and raising funds to acquire more Bitcoin.
