Strategy continues to fuel its Bitcoin accumulation strategy. From May 26th to June 1st, Strategy acquired 705 BTC for approximately $75.1 million, at an average price of $106,495 per unit. This purchase, while more discreet than its previous operations, still brings its total holdings to 580,955 BTC, equivalent to around 2.8% of the network’s maximum supply.
Strategy de Saylor unveils a new Bitcoin purchase
To date, Strategy has invested about $40.7 billion (including fees) to build its Bitcoin treasury, at an average price of $70,023 per BTC. Its position is currently valued at over $60 billion, representing a latent gain of about $19.3 billion.
More than $19 billion of latent gain
The most recent operation was funded not by the sale of common stock, but by the issuance of two series of perpetual preferred shares: STRK and STRF. Last week, the company sold 353,511 STRK for $36.2 million and 374,968 STRF for $38.4 million. Additionally, Strategy still has the capacity to raise nearly $41 billion through these programs.
An extraordinary acquisition plan
Company led by Michael Saylor continues to execute its plan called ’42/42′: a fundraising of $84 billion in stocks and convertible bonds, entirely dedicated to BTC acquisition by 2027. This ambitious plan has doubled from its initial version (’21/21′) after the first share allocation ran out.
Saylor had teased this acquisition himself the day before its announcement, simply posting: ‘Orange is my Preferred Color.’ During his speech at Bitcoin 2025 in Las Vegas, he also reaffirmed his opposition to on-chain reserve proof, which he considers incompatible with Strategy’s security requirements.
Increasingly active competition
Strategy’s buying pace is slowing partly due to the decrease in premium between MSTR and its Bitcoin holdings, which reduces the efficiency of its issuances. But pressure also comes from elsewhere: over 75 companies now hold Bitcoin in their treasuries. GameStop, Trump Media, PSG, and Metaplanet have joined the movement in recent weeks, marking a new stage in the ‘Bitcoin corporate’ competition.
Despite doubts about MSTR’s valuation, which remains significantly above its net assets, analysts at Bernstein estimate that Strategy and its imitators could inject up to $330 billion into the Bitcoin market within five years.
