Michael Saylor’s firm, Strategy — recognized as the largest corporate holder of Bitcoin — expanded its holdings once again last week as BTC momentarily surpassed the $110,000 mark.
Between May 19 and May 23, Strategy purchased an additional 4,020 BTC for a total of $427.1 million, according to a company announcement on May 26. The average acquisition price was approximately $106,237 per coin, with Bitcoin briefly climbing past $110K on May 22.
This marks Strategy’s fourth Bitcoin purchase in May alone, bringing the company’s total Bitcoin stash to 580,250 BTC. Altogether, these coins were acquired for roughly $40.6 billion, averaging $69,979 per BTC.
Company Executives Sell MSTR Shares
While Strategy ramped up its crypto holdings, director Jarrod Patten offloaded 2,650 shares of MSTR between May 16 and 21, fetching close to $1.1 million, according to a filing dated May 22. In total, Patten has sold 17,050 Class A shares since April 22, worth around $6.7 million.
Meanwhile, Chief Financial Officer Andrew Kang also sold 2,185 Class A shares on May 23, securing $719,447, as disclosed in an amended filing on the same day.
MSTR Drops 12% Amid Legal Troubles
Despite its aggressive Bitcoin accumulation strategy, the company’s stock has taken a hit. MSTR shares have dropped roughly 12% in the past week, sliding from around $420 to $369, according to TradingView.
This downturn followed the filing of a class-action lawsuit on May 19, alleging the company misled investors about its Bitcoin exposure. The lawsuit aims to recoup losses from shareholders impacted by alleged securities fraud during April 2025.
MSTR’s all-time high closing price was around $474, recorded on November 19, 2024.
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