[DigitalToday reporter Yoonseo Lee] Strategy bought an additional 535 bitcoin, raising its total holdings to 818,869 BTC.

On May 11 (local time), blockchain media outlet The Block Crypto reported that Strategy bought more bitcoin from May 4 to 10, spending about $43 million. The average purchase price was $80,340 per bitcoin.

With the purchase, the total value of Strategy's bitcoin holdings was estimated at about $66.5 billion. Chairman Michael Saylor (마이클 세일러) said the company's cumulative average purchase price was $75,540 per bitcoin and the total acquisition cost including fees and expenses was about $61.9 billion. At current prices, this reflects unrealised gains of about $4.6 billion. The company's holdings exceed 3.9 percent of bitcoin's total issuance cap of 21 million.

Funding was raised, as before, through a stock market sale programme. Strategy sold 231,324 shares of its Class A common stock MSTR last week to secure about $42.9 million. As of May 10, the programme had $26.35 billion available for additional issuance and sales. It also sold 1,412 shares of perpetual preferred stock STRC for about $100,000, and the remaining limit under that programme is $19.46 billion.

The company is also pursuing a "42/42" plan to raise a total of $84 billion by 2027 to buy bitcoin. It is also running separate market sale programmes using perpetual preferred shares such as STRK, STRC, STRF and STRD. It recently expanded the programmes to additionally include $21 billion of MSTR, $21 billion of STRC and $2.1 billion of STRK.

The purchase resumed after a one-week pause. Saylor wrote "back to work" alongside an update to his regularly posted bitcoin purchase tracker, signalling a resumption of buying. Strategy had stopped weekly purchases the previous week ahead of its first-quarter earnings release.

Still, earnings pressure remains. Strategy posted a net loss of $12.5 billion in the first quarter, largely due to a $14.5 billion markdown loss on its bitcoin holdings. Even so, management cited STRC as a key driver of recent bitcoin purchases. STRC is a floating-rate cumulative preferred stock with a monthly dividend structure, with a rate adjusted to keep the share price near its $100 par value. Its current annualised dividend yield is 11.5 percent.

The company also proposed changing the STRC dividend payment schedule from once a month to twice a month. Strategy said the change could lead to reduced delays in reinvestment, improved liquidity, higher market efficiency and greater price stability.

Saylor also left open the possibility of selling some bitcoin to fund future STRC dividends. At the first-quarter earnings release, he said, "We may sell some bitcoin to fund dividends." In a weekend interview, he drew a line, saying the net-buying stance would be maintained. He also said on a podcast, "Even if we sell 1 bitcoin, we will buy 10 to 20 more," adding, "Bitcoin must remain in a state of net accumulation."

The number of listed companies that have added bitcoin as a treasury asset continues to rise. By Bitcoin Treasuries tallies, 196 listed companies have adopted some form of bitcoin-buying model. Still, many of their share prices have fallen sharply from their summer 2025 peaks, and the market-cap multiple to net asset value has also narrowed. MSTR's mNAV has also fallen to 1.04 times on the Bitcoin Treasuries basis, down about 59 percent from its summer 2025 peak.

As a result, market attention is focused on how Strategy will manage preferred dividend burdens and capital-raising pressure while continuing its aggressive bitcoin-buying stance. With expanding bitcoin holdings remaining central to the company's strategy, how it funds future STRC dividends and the pace of additional purchases are expected to influence MSTR's share price and market assessment.

Strategy has acquired 535 BTC for ~$43.0 million at ~$80,340 per bitcoin and has achieved BTC Yield of 9.4% YTD 2026. As of 5/10/2026, we hodl 818,869 $BTC acquired for ~$61.86 billion at ~$75,540 per bitcoin. $MSTR $STRC https://t.co/qScHXi2BBJ