Strategy continues to aggressively expand its Bitcoin holdings. As stated by company executive Michael Saylor, the firm has recently acquired an additional 13,390 BTC for approximately $1.34 billion, with an average purchase price of $99,856 per coin. This brings their total to 568,840 BTC, representing roughly 2.7% of Bitcoin’s maximum supply of 21 million coins.
Significant Bitcoin Acquisition Near the $100K Threshold
Recent reports indicate that Strategy’s latest acquisition is just shy of the $100,000 price point per Bitcoin. They invested $1.34 billion in this transaction. This isn’t their first sizable purchase in 2025. On May 5, they bought 1,895 BTC at $95,167 each, and previously, on April 28, they acquired 15,355 BTC for $92,737 apiece. This indicates they are purchasing at various price points, all hovering close to the $100K mark, ensuring they remain in the news.
Rising Average Purchase Price
The average cost per BTC for Strategy has increased from $68,550 to $69,287. This change is significant, as a higher cost basis necessitates larger price fluctuations to achieve profitability. Peter Schiff, a prominent advocate for gold, cautioned that their next purchase could push that average above $70,000. He argues that if Bitcoin prices drop beneath their average cost, even minor paper losses could become substantial losses upon selling.
Strategy has acquired 13,390 BTC for ~$1.34 billion at ~$99,856 per bitcoin, yielding a 15.5% return YTD 2025. As of 5/11/2025, we hold 568,840 $BTC purchased for ~$39.41 billion at ~$69,287 per bitcoin. $MSTR $STRK $STRF
— Michael Saylor (@saylor) May 12, 2025
Swift Returns From Recent Acquisitions
Strategy reports a 15.5% yield from Bitcoin investments this year so far. This “yield” reflects the difference between the current market price and their acquisition cost. For instance, the purchase made on May 5 has already generated approximately $16.8 million in just six days—a gain of 9.32%. Meanwhile, the April 28 acquisition has yielded around $177.1 million, or 12.47%. Even a smaller transaction from April 14 for 3,459 BTC at $82,618 has produced $74 million, amounting to a 25.88% increase.
Debt Exposure and Market Impact
It’s important to highlight that Strategy did not utilize cash alone for these purchases. They incorporated a blend of debt and equity, escalating their risk in the event of a Bitcoin price decline. They have invested around $39.41 billion, averaging $69,287 per coin. At the current price—approximately $104,000—the total holding is valued at around $59.2 billion, resulting in roughly $19.8 billion in unrealized gains. However, if prices drop, those gains could diminish rapidly.
Strategy’s consistent purchasing also impacts the market by reducing the available coins. Each significant acquisition results in fewer coins being accessible on exchanges. Some analysts suggest this could tighten supply and propping up prices, while others believe the true challenge will arise if the market cools. Should demand slow and holders start to sell, even large entities like Strategy might experience substantial pressure.
Featured image from Unsplash, chart from TradingView
