Crypto Whale Gobbles Up $427M in Bitcoin—Now Controls 3% of Total Supply

Another day, another institutional player stacking sats like there’s no tomorrow. This time, a single strategy just dropped half a billion dollars on Bitcoin—bulking its holdings to a staggering 3% of the entire circulating supply. Who needs diversification when you can YOLO into orange coin, right?

Wall Street analysts are either sweating or secretly drafting their ’Why We Were Wrong About Bitcoin’ memos. Meanwhile, the crypto crowd shrugs: ’First time?’

Funny how these ’risk-averse’ institutions keep FOMOing into BTC after a 200% rally. Almost like they enjoy buying high and—nah, couldn’t be.

Strategy’s Bitcoin purchase

Acquired at an average cost of $69,979 per coin, Strategy’s investment now represents close to 3% of Bitcoin’s capped 21 million supply.

With over $22.7 billion in unrealized profits, the firm continues to reinforce its conviction in bitcoin as a long-term treasury asset. Despite the crypto’s price volatility and market speculation persisting.

What’s more?

To finance its latest Bitcoin acquisition, Strategy tapped into multiple equity instruments, including its class A common stock and two types of perpetual preferred shares.

Between 19 May and 23 May, the company secured roughly $427 million by strategically liquidating certain assets.

The transactions involved selling 847,000 MSTR shares, generating $348.7 million, 678,970 STRK shares worth $67.9 million, and 104,423 STRF shares – Amounting to $10.4 million.

Impact on MSTR’s stock price

This coincided with Bitcoin trading at $109,796.86, reflecting only a marginal 0.03% dip over the last 24 hours, according to CoinMarketCap.

However, despite Strategy’s significant Bitcoin purchase, its stock (MSTR) was down 7.50% on the charts. It was trading at $369.51 at press time, as per Google Finance data.

Strategy acts as a playbook for other institutions

And yet, the company’s long-standing conviction in Bitcoin continues to set the tone for corporate adoption strategies worldwide.

Tesla, for example, still holds over $1.25 billion worth of BTC, reaffirming its position as a top institutional HODLer.

Meanwhile, Japan’s Metaplanet has quickly risen through the ranks, with a recent acquisition of 1,241 BTC pushing its total holdings to 6,796 BTC. It has even surpassed El Salvador’s 6,174 BTC reserve, as reported by Bitcoin Office.

This is a sign of how Strategy’s aggressive Bitcoin accumulation has become a blueprint for others. It also signals a shift in how major entities perceive and store long-term value in the crypto ecosystem.