Business intelligence firm Strategy has acquired an additional 13,390 BTC for approximately $1.34 billion. The purchase, made between May 5 and May 11 as Bitcoin (BTC) breached the $100,000 mark, pushes the company’s total holdings to 568,840 BTC, according to a May 12 filing with the US Securities and Exchange Commission.
This latest acquisition was executed at an average price of $99,856 per Bitcoin, contributing to Strategy’s cumulative investment of around $39.4 billion at an average cost of $69,287 per coin. The 2.4% increase in holdings has also allowed Strategy to surpass its previously set 2025 Bitcoin yield target.
Co-founder Michael Saylor announced on X (formerly Twitter) that the purchase has boosted Strategy’s BTC yield – a metric reflecting the percentage change of its Bitcoin holdings relative to assumed diluted shares – to 15.5%. This achievement exceeds the firm’s initial 15% target for the entire year, a target set after a remarkable 74% BTC yield in 2024. Consequently, Strategy has now raised its 2025 Bitcoin yield target to 25%.
However, Strategy’s aggressive Bitcoin accumulation strategy continues to draw criticism. Noted Bitcoin skeptic Peter Schiff took to X to voice his concerns following Saylor’s announcement. Schiff predicted that Strategy’s ongoing purchases would likely drive its average Bitcoin cost above $70,000, warning that a subsequent price drop could push the market price below their average cost. “Not good considering how much you borrowed to buy the Bitcoin,” Schiff stated, adding, “When you sell, small paper losses will become huge real losses.”
Schiff’s remarks come shortly after Strategy revealed plans to double its capital raise to $42 billion in both equity and fixed-income offerings, earmarked for further Bitcoin acquisitions. While Schiff is known for his bearish Bitcoin predictions, other significant crypto firms have also reportedly maintained a distance from Strategy’s model.
