Strategy bags 4,020 Bitcoin as price briefly breaks $110K

MicroStrategy, a leading corporate Bitcoin investor, significantly increased its Bitcoin holdings. Between May 19th and 23rd, the company acquired 4,020 BTC for $427.1 million, at an average price of $106,237 per coin. This purchase, the fourth in May, brings MicroStrategy’s total BTC holdings to 580,250, acquired for approximately $40.61 billion at an average price of $69,979 per coin. This reflects CEO Michael Saylor’s strategy of continuous Bitcoin accumulation regardless of price, a stance he reiterated in late 2024.

However, this bullish Bitcoin strategy contrasts with recent internal activity. Director Jarrod Patten sold 2,650 MSTR shares (worth nearly $1.1 million) between May 16th and 21st, part of a larger sale of 17,050 Class A shares totaling $6.7 million since April 22nd. Similarly, CFO Andrew Kang sold 2,185 Class A shares on May 23rd, netting $719,447. These sales occurred concurrently with MicroStrategy’s Bitcoin purchases.

This internal selling activity coincides with a recent downturn in MSTR stock. Following a class-action lawsuit filed on May 19th alleging misrepresentation of Bitcoin investments and seeking to recover shareholder losses from alleged April 2025 securities fraud, MSTR shares have fallen at least 12% in a week, from around $420 to $369 (TradingView data). This drop contrasts sharply with the stock’s all-time high of approximately $474 on November 19th, 2024. The lawsuit’s impact on investor sentiment and the company’s future performance remains to be seen. Despite the stock price decline, MicroStrategy’s commitment to Bitcoin remains steadfast.