Michael Saylor’s Strategy, the world’s largest corporate holder of Bitcoin, has announced its latest BTC purchases after the price briefly dropped to $103,000 last week.
Strategy acquired 705 Bitcoin for $75.1 million between May 26 and 30, the company announced on June 2.
The latest purchases were made at an average price of $106,495 per coin, with Bitcoin dropping from $110,000 last Monday to an intraweek low of $103,400 by the weekend.
The purchase marked the last Strategy’s Bitcoin buy in May, bringing Strategy’s total BTC holdings to 580,955 BTC, acquired for approximately $40.68 billion at an average price of $70,023 per coin.
BTC yield of 16.9% YTD
With the new acquisition, Strategy has slightly increased its Bitcoin yield, an indicator referring to the percentage increase in the value of its Bitcoin holdings over a specific period of time.
According to Strategy’s data, the latest purchase brought the year-to-date BTC yield to 16.9%, up 0.1% from the previous 4,020 BTC buy announced last Monday. The quarter-to-date BTC yield is now 5.4%.
As mentioned, Strategy seeks to reach a BTC yield target of 25% YTD by the end of 2025. The company previously targeted a 15% yield but lifted it on May 1.
Related: Strategy’s Michael Saylor signals impending Bitcoin purchase
Strategy director sells MSTR shares
Strategy’s new Bitcoin acquisition followed another series of Class A sales by Strategy director Jarrod Patten.
According to a Strategy report of the proposed sale of securities filed on May 30, Patten sold 3,750 shares in the period between May 22 and 29, worth nearly $1.4 million.
Strategy’s stock, trading under the ticker MSTR, saw downward pressure following the sales, briefly falling below $360 on both May 28 and May 30.
Related: Metaplanet becomes 8th largest Bitcoin holder with $118M buy
TradingView said the Strategy stock recovered to close last week at $369, but was trading at 1.6% down in pre-market.
Despite recent drops, Strategy stock is still up roughly 23% year-to-date, with annual gains of 123%.
According to Strategy analyst Jeff Walton, Saylor’s company is well-positioned to become the “number one publicly traded equity in the entire market” one day due to its massive stake in Bitcoin.
By the time of the announcement, Strategy owned nearly 581,000 BTC, or 2.9% of all Bitcoin that had been mined to date.
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