Business intelligence firm Strategy has further solidified its position as the world’s largest corporate holder of Bitcoin, acquiring an additional 7,390 BTC for approximately $764.9 million, according to a Form 8-K filed with the Securities and Exchange Commission on Monday.
BREAKING: ?? STRATEGY BUYS ANOTHER 7,390 #BITCOIN FOR $764 MILLION pic.twitter.com/5SSzAxkid5
— Bitcoin Magazine (@BitcoinMagazine) May 19, 2025
The latest purchase, executed between May 12 and May 18 at an average price of $103,498 per Bitcoin, brings Strategy’s total holdings to a staggering 576,230 BTC, now valued at approximately $59 billion based on current market prices. The company’s average acquisition price across all holdings stands at $69,726 per coin, representing a total investment of $40.18 billion.
Financing the Acquisition
Strategy funded this recent Bitcoin purchase through a combination of stock offerings:
- $705.7 million raised through an at-the-market (ATM) offering of Class A common stock
- An additional $59.7 million generated by issuing 621,555 shares of Series A STRK preferred stock
This approach aligns with the company’s aggressive capital raising strategy implemented in 2025, which includes two ATM offerings totaling $42 billion – split evenly between a $21 billion common stock program and a $21 billion preferred stock program, both established on May 1.
Following these transactions, Strategy still has significant funding capacity remaining:
- Approximately $18.98 billion available under the common stock ATM
- About $20.79 billion available under the preferred stock ATM
Also Read: Strategy Acquires 13,390 Bitcoin for $1.34 Billion as Price Tops $100K
Legal Challenges Emerge
The announcement comes as Strategy faces mounting legal pressure. On May 16, a class action lawsuit was filed against the company in the U.S. District Court for the Eastern District of Virginia by plaintiff Anas Hamza. The lawsuit also names several executives as defendants, including Michael Saylor, Phong Le, and Andrew Kang.
The legal action covers the period from April 30, 2024, to April 4, 2025, alleging that Strategy and its executives made misleading statements regarding:
- Risks associated with the company’s Bitcoin-focused investment strategy
- Anticipated profitability of the Bitcoin acquisitions
- Potential magnitude of losses following implementation of new accounting standards
In response, Strategy has stated in its SEC filing that it “intends to vigorously defend against these claims.”
Market Context
Strategy’s latest Bitcoin purchase occurs within a broader context of increasing institutional adoption of cryptocurrency assets. With Bitcoin trading above $103,000, the market has shown remarkable resilience and growth over the past year, despite periods of volatility.
The company’s unrelenting accumulation strategy, converting excess cash flow and raising substantial capital to acquire additional Bitcoin, has proven successful thus far, with Strategy’s holdings representing a significant portion of the total Bitcoin supply in circulation.
As Bitcoin continues to gain acceptance as both a store of value and a legitimate corporate treasury asset, Strategy’s bold approach may influence other corporations considering cryptocurrency allocations, despite the ongoing regulatory scrutiny and legal challenges faced by early institutional adopters.
Strategy remains committed to its Bitcoin-centric vision, even as it navigates the complexities of regulatory compliance, shareholder concerns, and legal disputes that have accompanied its pioneering position in corporate cryptocurrency adoption.
