MicroStrategy’s 535 BTC Buy Smallest of 2026

MicroStrategy acquired 535 Bitcoin between May 5 and May 11, paying roughly $80,340 per coin for a total near $43 million. The purchase increased the company’s holdings to 818,869 BTC, with a blended cost basis of about $75,540 per coin and cumulative Bitcoin spending of roughly $61.86 billion. The firm’s BTC Yield, a measure of Bitcoin growth per share, stood near 9.4% year-to-date.

The 535 BTC buy is the smallest weekly purchase of 2026 and follows a sharp slowdown in accumulation. For the week ending April 20 MicroStrategy added 34,164 BTC; the next week it bought 3,273 BTC; the company paused purchases ahead of its May 5 earnings report; and the May 5–11 week saw 535 BTC added.

Executives have described the company’s weekly buying as driven by the mechanics of share issuance, preferred stock and dividend funding rather than by Bitcoin’s spot price. On the May 5 earnings call, co-founder Michael Saylor told investors, “We’ll probably sell some Bitcoin to fund a dividend just to inoculate the market and send the message that we did it.” CEO Phong Le joined management in outlining conditions under which the company would sell coins, citing funding for the $STRC preferred dividend and tax management as examples.

Shares declined about 3% after management discussed the possibility of sales. Management expects to be net buyers overall and has a target of acquiring 10 to 20 BTC for each coin sold.

Smaller weekly purchases have not matched dilution from ongoing at-the-market equity offerings and issuance of $STRC preferred stock, which reduces BTC Yield per share. Key items to watch in coming weeks are whether weekly purchases increase, whether MicroStrategy executes a sale to fund dividends or taxes, and the pace of $STRC issuance and associated dividend obligations.