Strategy buys $1.34B in BTC as holdings hit 568K+

Key points:

Strategy acquired 13,390 BTC for $1.34 billion between May 5–11, taking its total holdings to 568,840 BTC.

The firm achieved a 15.5% Bitcoin yield and raised its 2025 target to 25% after breaching $100K BTC.

News - Bitcoin bull Michael Saylor’s Strategy has scooped up another 13,390 BTC for $1.34 billion, according to a May 12 SEC filing. Acquired at an average price of $99,856, this latest buy pushes the company’s total BTC stash to 568,840—over 2.7% of the total supply. The average purchase cost now stands at $69,287 per coin.

The capital was raised through the sale of 3.2 million MSTR shares and 273,987 STRK preferred shares. This move follows the company's recently upsized capital program, aiming to raise $84 billion through equity and debt for future Bitcoin buys.

BTC yield target surpassed - Following the acquisition, Strategy met its previous 15% Bitcoin yield target for 2025. Saylor announced the firm is now aiming for 25% this year—after hitting 74% in 2024. The BTC yield metric reflects the ratio change between Bitcoin holdings and diluted shares.

Critics remain skeptical - Bitcoin skeptic Peter Schiff criticized the move, suggesting Strategy’s average cost could soon rise above $70K, leaving the firm vulnerable if BTC drops. He warned of potential “huge real losses” if the market turns.

Market positioning and valuation - Despite critics, Strategy’s market cap remains strong, trading at roughly 2x its BTC net asset value. Analysts at Bernstein and Benchmark maintained bullish ratings, with targets of $600–$650 for MSTR stock. With low debt and no payments due until 2028, the firm remains well-positioned to continue its aggressive BTC accumulation.