Michael Saylor’s company Strategy (MSTR) has shocked crypto markets with a major return to large-scale bitcoin accumulation. The firm purchased 8,178 BTC last week for $835.6 million, paying an average of $102,171 per coin. This marks the company’s biggest buy in months after a long stretch of smaller, incremental additions.
Most of the purchase was powered by Strategy’s newly issued preferred offering, STRE, known as Steam, which drew strong interest from European investors and raised roughly $715 million earlier this month. An additional $131.4 million came from its STRC, or Stretch, preferred series, according to a Monday filing.
Strategy now holds 649,870 BTC worth $48.37 billion at an average cost of $74,433 each. The company had avoided large common-share offerings recently due to a steep 56% drop in its stock price over the past four months. This latest move signals renewed confidence from Saylor’s team and brings fresh momentum to the pro-crypto narrative.