Strategy bags 4,020 Bitcoin as price briefly breaks $110K

Michael Saylor’s Strategy, the world’s largest corporate Bitcoin investor, bagged a fresh stash of BTC as the price briefly surged above $110,000 last week.

Strategy acquired 4,020 Bitcoin BTCUSD for $427.1 million between May 19 and 23, the company announced on May 26.

The latest purchases were made at an average price of $106,237 per coin, with Bitcoin smashing past $110,000 on May 22.

The acquisition marked the fourth Bitcoin purchase by Strategy in May, bringing Strategy’s total BTC holdings to 580,250 BTC, acquired for about $40.6 billion at an average price of $69,979 per coin.

Strategy director sells 2,650 MSTR shares

Strategy’s new Bitcoin acquisition followed a series of Class A sales by Strategy director Jarrod Patten.

According to a Strategy report of the proposed sale of securities filed on May 22, Patten sold 2,650 MSTR shares in the period between May 16 and 21, worth nearly $1.1 million.

Since April 22, Patten has sold a total of 17,050 Class A shares worth $6.7 million.

Additionally, Strategy’s chief financial officer, Andrew Kang, sold 2,185 Class A shares on May 23, netting $719,447, according to an amended report filed on May 23.

MSTR slides 12% after class-action lawsuit

Strategy’s new purchase reflects Saylor’s philosophy of acquiring Bitcoin no matter how high the prices are, as he previously vowed to keep buying Bitcoin at the top forever in late 2024.

In the meantime, Strategy’s shares have been tumbling from their all-time highs, losing at least 12% in the past week, with prices falling from around $420 to $369, according to TradingView data.