Breaking: Strategy Acquires 4,020 BTC For $427M; MSTR Stock Price Down 7%

Michael Saylor’s Strategy, previously known as MicroStrategy, made another BTC purchase between May 19 and 25, bringing its total holdings to 580,250 BTC. This comes amid plans to raise $2.1 billion to buy more BTC. Meanwhile, the MSTR stock price is in the red and has failed to rally despite the announcement of this most recent Bitcoin purchase.

Strategy Purchases 4,020 BTC for $427.1 Million

In a press release, the company announced that it has purchased 4,020 BTC for $427.1 million at an average cost of $106,237 per Bitcoin. It has also achieved a BTC yield of 16.8% year-to-date (YTD).

The firm now holds 580,250 BTC, which it acquired for $40.16 billion at an average price of $69,979 per Bitcoin. It remains the public company with the largest Bitcoin holdings, well ahead of the second-placed MARA Holdings.

This marks the company’s seventh consecutive Bitcoin purchase in a period that dates back to May 14. Last week, Strategy, previously MicroStrategy, purchased 7,390 BTC for $764.9 million. The largest purchase during this period came between May 5 and 11, when it bought 13,390 BTC for $1.34 billion.

As reported by CoinGape yesterday, Michael Saylor had already hinted at another Bitcoin purchase. The company’s co-founder’s posts about the BTC portfolio tracker typically precede every purchase announcement.

It is worth mentioning that despite the BTC purchase announcement, the MSTR stock price is down over 7%, trading at around $369 in pre-market. An expert recently predicted the stock could still crash to as low as $350 before it records a 100% rally to the upside.

Crypto analyst Ali Martinez had also predicted that the MicroStrategy (MSTR) stock could witness a significant correction, seeing as the TD Sequential flashed a sell signal. However, he didn’t state how low the stock’s price could drop.

The stock is still up over 27% year-to-date and up over 119% in the last year. As Saylor highlighted, MSTR has also enjoyed the most returns among major assets, including Bitcoin and the ‘Magnificent 7’ stocks.

Meanwhile, Strategy is expected to acquire more Bitcoin in the short to mid-term. The company recently announced another At-The-Market (ATM) program to raise $2.1 billion through stock sales for more BTC acquisitions. Saylor and his firm have also doubled their capital raise plans from $42 billion to $84 billion.