Strategy stacks another 13,390 bitcoin for $1.3 billion, bringing total holdings to 568,840 BTC

Bitcoin treasury company Strategy (formerly MicroStrategy) acquired an additional 13,390

BTC -1.37%

for approximately $1.34 billion at an average price of $99,856 per bitcoin between May 5 and May 11, according to an 8-K filing with the Securities and Exchange Commission on Monday.

Strategy now holds a total of 568,840 BTC — worth over $59 billion — bought at an average price of $69,287 per bitcoin for a total cost of around $39.4 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. That's the equivalent of more than 2.7% of bitcoin's total 21 million supply and implies around $20 billion of paper gains — with 303,230 BTC bought in the last six months alone.

The latest acquisitions were made using proceeds from the sale of its class A common stock, MSTR, and perpetual strike preferred stock, STRK. Last week, Strategy sold 3,222,875 MSTR shares for approximately $1.31 billion. As of May 11, $19.69 billion worth of MSTR shares remain available for issuance and sale under that program, the firm said. Strategy also sold 273,987 STRK shares for approximately $25.1 million, with $20.85 billion worth of STRK shares remaining available for issuance and sale under that program.

Strategy's STRK and STRF perpetual preferred stocks are in addition to the firm's "42/42" plan, which targets a total capital raise of $84 billion in equity offerings and convertible notes for bitcoin acquisitions through 2027 — upsized from its initial $42 billion, "21/21" plan, of which the equity side was recently depleted.

Saylor again hinted at the likelihood of another bitcoin acquisition filing ahead of time, sharing an update on Strategy's bitcoin purchase tracker on Sunday, stating, "Connect the dots

Strategy previously acquired an additional 1,895 BTC for approximately $180 million at an average price of $95,167 per bitcoin between April 28 and May 4 — taking its total holdings to 555,450 BTC.