As Bitcoin surpassed the $100,000 milestone last week, Michael Saylor’s company, Strategy, made another major investment in the leading cryptocurrency.
Between May 5 and May 11, Strategy acquired 13,390 BTC at an average price of $99,856 per coin, according to a filing with the U.S. Securities and Exchange Commission released on May 12. The total cost of the purchase came to approximately $1.34 billion.
This latest buy raised the company’s total Bitcoin holdings to 568,840 BTC, representing a 2.4% increase. So far, Strategy has spent roughly $39.4 billion on Bitcoin, with an average acquisition price of $69,287 per BTC.
The new acquisition also helped Strategy meet its Bitcoin yield target for 2025. Co-founder Michael Saylor announced on X that the company had achieved a 15.5% BTC yield — a metric comparing its Bitcoin holdings relative to diluted shares — aligning with its prior annual target. Strategy has now raised its goal to a 25% yield by May 2025.
However, not everyone is optimistic. Noted Bitcoin skeptic Peter Schiff criticized the move, suggesting Strategy’s average purchase price could soon exceed $70,000. Schiff warned that a market downturn might send Bitcoin below this level, exposing the company to significant losses, especially given its use of borrowed funds.
This comment came shortly after Strategy announced its intention to double its capital raise, aiming for $42 billion each in equity and fixed-income instruments to fund additional BTC acquisitions.
While Schiff is known for his bearish Bitcoin takes — many of which have proven inaccurate — Bloomberg recently reported that other firms, including Coinbase, have opted against mimicking Strategy’s bold Bitcoin accumulation model.
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