Strategy Makes Second $2 Billion BTC Buy In Less Than A Month – MSTR Stock Still Tumbles

• The latest transaction marks Strategy’s second Bitcoin purchase exceeding $2 billion in less than a month following its $2.5 billion buy in April.
• Strategy funded much of the acquisition through sales of its STRC preferred stock, which generated nearly $1.95 billion in proceeds.
• The company also raised another $83.7 million through sales of MSTR common stock.

Shares of Michael Saylor-backed Strategy (MSTR) dropped in pre-market trade on Monday after the company made its second $2 billion Bitcoin (BTC) buy in less than a month. 

The company announced it had bought 24,869 Bitcoin for around $2.01 billion, which puts the average price per Bitcoin at around $80,985. This brings MSTR’s total Bitcoin holdings to around 843,783 BTC, at an average price of $75,700, keeping unrealized gains in the green.

However, MSTR’s stock tumbled more than 3% in the early morning amid broader weakness in the cryptocurrency market. Bitcoin’s price fell around 1% in the last 24 hours to approximately $77,600. On Stocktwits, retail sentiment around MSTR dipped to ‘bearish’ from ‘neutral’ territory over the past day and chatter fell to ‘low’ from ‘normal’ levels. 

This is the second time in less than a month that MSTR has shelled out more than $2 billion to buy Bitcoin. In April, the firm bought 34,164 BTC for around $2.5 billion.

‘Big Dot Energy’ Bitcoin Buy

The big Bitcoin buy comes after Saylor teased a “Big Dot Energy” post on X over the weekend. 

Strategy's recent $1.5 billion repurchase of 2029 convertible notes, settling around May 19, has not slowed the capital-raising flywheel. Last week, Thursday's STRC trading session also set an all-time volume record of 15.1 million shares, topping the prior peak from April 14. 

For its latest purchase, the company sold roughly 19.5 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), generating approximately $1.95 billion in net proceeds. Strategy also sold 430,344 shares of MSTR common stock, raising an additional $83.7 million. Combined proceeds totaled approximately $2.03 billion during the reporting period.

MSTR’s stock has gained 14% this year, while Bitcoin has fallen over 11%. 

Read also: Iran Reportedly Wants To Use Bitcoin To Protect The World's Most Critical Crude Oil Chokepoint

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