In a groundbreaking financial move, Strategy Inc. has made headlines by purchasing 34,164 Bitcoin for an impressive $2.54 billion, marking the largest single-day acquisition in the company’s history. This monumental purchase boosts Strategy’s total Bitcoin holdings to 815,061, a staggering value of approximately $61.6 billion. As a result, the company has surpassed BlackRock and now finds itself trailing only behind the elusive creator of Bitcoin, Satoshi Nakamoto.
Michael Saylor, the Executive Chairman of Strategy, announced the acquisition on Monday, following a tweet over the weekend that urged followers to “Think Even ₿igger.” Although cryptocurrency analyst Mike Flaum had predicted Strategy would acquire more than 40,000 BTC within the same week, Saylor’s final figure fell short but still underscored the significant scale of the transaction, highlighting it as the largest since 2024.
The Bitcoin was acquired at an average price of $74,395 per coin, raising Strategy’s overall blended cost basis to $75,527—remarkably close to Bitcoin’s current market trading price. Despite this ambitious undertaking, shares of Strategy’s stock (MSTR) experienced a slight decline in pre-market trading, down 1.90% to $163.35, which is roughly 46% below its all-time high. The company’s market net asset value (mNAV) currently stands at 1.27.
Criticism surrounding Strategy’s financial strategies continues, particularly from long-time skeptic Peter Schiff. He made waves last week by calling Strategy’s STRC preferred stock “misleading to constitute fraud,” emphasizing potential lawsuits if dividend payments are canceled and the stock takes a fall. In response, Saylor dismissed the criticism, stating, “If this makes you uncomfortable, it’s working.”
Accompanying the major Bitcoin purchase, Strategy is also proposing to adjust its dividend payment schedule for STRC from monthly to twice-monthly while keeping its annualized yield at 11.5%. A preliminary proxy statement has been filed, and shareholders are set to vote on this potential change at the annual meeting on June 8. Saylor has indicated that this shift aims to “stabilize price, dampen cyclicality, drive liquidity,” reinforcing STRC as the primary funding vehicle for cryptocurrency acquisitions, with approximately $19.46 billion in shares still available for issuance.
Optimism remains among traders regarding the future of Bitcoin. A market assessment from Polymarket anticipates a 38% chance for Bitcoin to rebound to $100,000 by the end of 2026, with 17% likelihood for it to reach $120,000. Conversely, traders also see a 60% chance of Bitcoin revisiting the $55,000 mark before year-end. Analysts estimate a 61% probability that Strategy Inc. will hold 1 million Bitcoin by the end of the year, bolstered by Saylor’s recent purchase.
Should Bitcoin surge in value, Saylor’s $2.5 billion investment could prove to be a savvy financial maneuver. Conversely, if the market does not respond favorably, shareholders of STRC may soon discover whether Schiff’s warnings have substance. Meanwhile, companies like Marathon Digital Holdings, Riot Platforms, and Coinbase Global present alternative pathways for investors looking to trade on the Bitcoin market’s volatile nature.
