Strategy, the company closely associated with Michael Saylor’s aggressive bitcoin treasury strategy, is estimated to have purchased roughly 2,110 BTC on May 13, using fresh capital raised through its STRC perpetual preferred stock program. If confirmed, the move would further cement the firm’s position as the most aggressive corporate accumulator of bitcoin and push its total holdings to nearly 820,979 BTC.
STRC Returns as the Funding Engine
The reported purchase was funded through proceeds from STRC, a perpetual preferred stock instrument that carries an 11.5% annual yield. Strategy has increasingly used this financing channel to raise capital for bitcoin acquisitions while avoiding the same level of dilution that would typically come from issuing common equity. The program regained momentum after the stock returned to its $100 par value, a level that reopened the company’s ability to issue additional shares under its at-the-market structure.
On May 11, Strategy disclosed that it had raised approximately $206 million by selling about 2.12 million STRC shares. That same day, STRC reportedly generated close to $445 million in trading volume, underscoring strong market activity around the instrument. The size of that financing round has led observers to estimate that a meaningful portion of the proceeds was quickly deployed into additional bitcoin purchases.
Holdings Could Near 821,000 BTC
Before this latest estimated purchase, Strategy had already added 535 BTC in the prior week for about $43 million, at an average acquisition price of roughly $80,340 per coin. That transaction brought the company’s holdings to 818,869 BTC. If the newly estimated 2,110 BTC buy is confirmed, Strategy’s bitcoin treasury would rise to approximately 820,979 BTC.
The article also notes that Strategy’s cumulative bitcoin position has been acquired at an average cost of around $75,540 per BTC. At the scale the company now operates, each additional purchase not only expands its balance-sheet exposure to bitcoin but also reinforces its broader market identity as a public company built around capital formation for crypto accumulation.
Saylor Clarifies “Never Sell” Concerns
The timing of the estimated purchase is notable because it comes after a recent public debate over Michael Saylor’s stance on selling bitcoin. Saylor had appeared, at least to some observers, to suggest that Strategy might sell bitcoin in order to fund dividend obligations. That interpretation sparked discussion because it seemed to conflict with his long-standing “never sell” message.
Saylor later clarified that the remarks were intended to confuse short-sellers rather than signal an actual strategic reversal. Company executives have since reiterated that Strategy plans to remain a net buyer of bitcoin. According to the report, the firm’s stated target is to buy 10 to 20 BTC for every 1 BTC sold, reinforcing the idea that any future sales, if they occur at all, would not alter the company’s core accumulation thesis.
A Relentless 2026 Buying Pace
Strategy’s latest estimated move fits into an already intense buying schedule in 2026. The company began the year by purchasing about $116 million worth of bitcoin in January. In April, it added 13,927 BTC for roughly $1 billion, and later that same month it purchased another 34,164 BTC for approximately $2.54 billion. Late last month, the company also disclosed a year-to-date BTC yield of 9.6%.
That pace highlights how Strategy is continuing to scale a model that blends capital markets activity with direct bitcoin acquisition. Rather than relying on a single source of financing, the company has increasingly leaned on structured products such as preferred stock to maintain flexibility while continuing to build its treasury position.
Why the Market Is Watching
At nearly 4% of bitcoin’s fixed 21 million supply, Strategy’s holdings have grown large enough to shape broader conversations about corporate crypto treasury management. The company’s use of structured financial instruments like STRC has become a closely watched playbook among public companies exploring bitcoin exposure. Some are still studying the model; others have already begun experimenting with similar approaches.
For supporters, Strategy’s latest estimated purchase signals continued conviction and demonstrates that investor demand for specialized funding vehicles can still be channeled into direct bitcoin accumulation. For skeptics, it raises familiar questions about leverage, concentration risk, and the sustainability of financing crypto exposure through yield-bearing securities. Either way, the company remains central to the evolving relationship between public markets and bitcoin.
If the estimated 2,110 BTC acquisition is formally confirmed, Strategy will once again have shown that even after building one of the largest bitcoin positions in corporate history, it is still pressing ahead with the same core strategy: raise capital, buy bitcoin, and expand its treasury footprint whenever market conditions allow.