Strategy Buys 535 More Bitcoin for $43 Million as Saylor Calls Critics Wrong
Strategy (MSTR) purchased 535 Bitcoin (BTC) for approximately $43 million on May 11, adding to one of the largest corporate cryptocurrency treasury positions in the world. Strategy chair Michael Saylor told CoinDesk that critics questioning the company’s approach are presenting “a big nothing burger.” Strategy describes itself as the world’s largest corporate buyer of Bitcoin by volume.
Purchase Details and Saylor’s Response
The latest acquisition was disclosed via a GuruFocus report citing a May 11 regulatory update.
At 535 BTC for $43 million, the average purchase price per coin was approximately $80,374. That price is consistent with Bitcoin’s trading range around $81,000 through the May 11 session, up roughly 1.2% on the day.
Saylor’s comments came in a CoinDesk interview published the same day.
He addressed critics who argue that Strategy buys Bitcoin every week simply to sustain its own equity narrative. He said the company has no plans to sell Bitcoin and is focused on retiring debt with proceeds from its STRC preferred share instrument rather than liquidating its BTC position.
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Background
Strategy, formerly known as MicroStrategy, began accumulating Bitcoin in August 2020 under Saylor’s direction, initially framing the position as a hedge against dollar inflation and monetary debasement.
The company has since purchased Bitcoin in nearly continuous tranches through equity raises, convertible notes, and preferred share offerings. It holds more than $62 billion in Bitcoin at current valuations, according to the CoinDesk interview.
The MSTR stock trades at a premium to the company’s Bitcoin net asset value, a gap that supporters call justified by Strategy’s ability to continue accumulating and that critics call unsustainable.
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What Comes Next
Strategy’s purchase cadence shows no sign of slowing despite Bitcoin trading near $81,000, a level that has capped the cryptocurrency for several weeks. Saylor’s dismissal of dividend concerns suggests the company will not change its accumulation-first capital approach in the near term.
Investors will watch whether Bitcoin clears the $82,000 resistance level in the coming days. A sustained break above that threshold could pressure MSTR’s premium to widen or compress depending on broader equity market conditions.
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