RickTerabyte2025

Strategy (NASDAQ: MSTR) has bought 535 more Bitcoins for about $43 million, taking its total holdings to 818,869, just shy of 819,000.

Strategy spent $240,000 from May 4 to May 10 to buy these Bitcoins. This was reported in a U.S. Securities and Exchange Commission (SEC) filing and revealed that Strategy bought these at an average of $80,340 per Bitcoin in this current bunch.

After the latest buy, the company’s full Bitcoin stack cost about $61.9 billion, with an average purchase price of $75,540 per BTC, including fees and expenses. With Bitcoin recently above $81,000, the stash was worth about $66.5 billion, putting the position in profit on paper.

Strategy uses MSTR and preferred stock programs to fund more Bitcoin purchases

Strategy now owns more than 3.9% of Bitcoin’s 21 million supply cap, and will use stocks, preference shares, and debt-tied instruments to buy into 2027.

The cash came mainly from at-the-market sales of company securities, including Strategy’s Class A common stock, MSTR, and its perpetual Stretch preferred stock, STRC.

Strategy has at-the-market programs tied to four perpetual preferred stocks; STRK (which has a $21 billion program), STRC (which has $4.2 billion), STRF (which has $2.1 billion), and STRD (which has $4.2 billion).

The firm has also increased its room to raise money, recently issuing another up to $21B MSTR share offering in addition to its STRC and STRK security offerings.

STRC has now become a major component of its Bitcoin purchase mechanism.

Strategy has requested to move dividends on STRC to a bi-weekly rather than monthly basis, noting that the move “could result in reduced reinvestment lag, greater liquidity, efficiency, and increased price stability.”

Michael Saylor says Strategy may sell some Bitcoin while buying more

Before the latest Bitcoin purchase was made public, Strategy co-founder and executive chairman Michael Saylor posted his regular Bitcoin tracker update on X. He wrote, “Back to work,” after the company skipped buying the week before its first-quarter earnings release.

Cryptopolitan had reported about a week ago that Strategy saw a $12.7 billion net loss for the first quarter of 2026, with most of that coming from a $14.5 billion unrealized markdown tied to the value of its Bitcoin holdings.

During the first-quarter earnings call, Michael said Strategy could sell Bitcoin later if it needs cash for STRC dividends or convertible debt payments. “We’ll probably sell some Bitcoin to fund the dividend, just to inoculate the market, just to send the message that we did it,” he said.

Over the weekend, Michael said any sale would likely be smaller than later purchases. “In these periods, even if we were to sell one Bitcoin, we’d be buying 10 to 20 more Bitcoin,” he said. “You should be a net accumulator of Bitcoin. When I said ‘never sell your Bitcoin,’ I mean make sure if you were to spend it on something, you replenish in the time you spend it.”

The Bitcoin treasury trade is no longer just a Strategy thing. Bitcoin Treasuries data shows 196 public companies now have some type of Bitcoin buying plan. Still, many of those stocks have dropped hard from their summer 2025 highs as market cap-to-net asset value ratios came down.

Strategy’s MSTR is still about 59% below those highs, with an mNAV ratio of 1.04. The stock rose 9.8% last week and closed Friday at $187.

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At the Consensus 2026 event in Miami, BONK core contributor Nom expressed skepticism about the longevity of most memecoins. According to NS3.AI, Nom likened investing in new memecoins to engaging in high-risk sports betting. He highlighted that many of these projects are ill-equipped to manage exchange listings or apply for ETFs, raising concerns about their sustainability.

Michael van de Poppe, founder of MN Trading Capital, suggests that Bitcoin's return to the $100,000 mark might not need new market narratives to drive it. According to Odaily, he believes that narratives will naturally form as prices rise. Currently, market attention has shifted towards areas like AI, putting short-term pressure on Bitcoin. However, from a mathematical and statistical perspective, the current price range still holds value for accumulation.

Data indicates that Bitcoin has not reached the $100,000 level for nearly five months. The price has risen from a low of approximately $60,000 in February this year to around $78,000, marking a 14.49% increase over the past 30 days. The market is closely watching potential catalysts such as Federal Reserve interest rate policies, regulatory developments, and inflows into Bitcoin spot ETFs. However, some opinions suggest that even if the U.S. CLARITY Act is implemented, its direct impact on Bitcoin's price may be limited.

PANews posted on X (formerly Twitter). During his speech at the Bitcoin Conference 2026, Michael Saylor shared his ultimate vision for Bitcoin, predicting a future value of $10 million per coin. He envisions a $200 trillion Bitcoin network that serves as a digital banking platform for one billion people worldwide. Saylor believes that Bitcoin's future role will extend beyond a 'buy and hold' asset, becoming the foundational collateral for a digital credit system that integrates stablecoins, crypto tokens, and traditional capital markets.

Key Takeaways
Bitcoin briefly climbed above $79,000 during Asian trading before slipping back below $78,000, with concentrated sell orders at $80,000 capping upside for the second time in daysFxPro chief market analyst Alex Kuptsikevich describes the pullback as temporary and consistent with the broader uptrend that began in late MarchBinance has recorded $3.4 billion in net stablecoin inflows this month per CryptoQuant, following $3 billion in March, signaling fresh capital waiting for an entry pointUS spot Bitcoin ETFs have pulled in $2.44 billion in April -- the strongest monthly inflow since October when Bitcoin hit record highs above $126,000DeFi hacks have totaled an estimated $623 million in April alone per Memento Research, with cumulative all-time DeFi exploit losses reaching $7.72 billion per DeFiLlamaWTI crude is hovering above $90 per barrel with Brent above $100, significantly higher than pre-war levels below $70, threatening to keep inflation elevated
Bitcoin is caught in a familiar pattern just below a major psychological level, with $80,000 acting as a near-term ceiling for the second time in days as concentrated sell orders absorb buying pressure even as the underlying demand picture continues to strengthen.
The leading cryptocurrency briefly cleared $79,000 during Asian trading hours before slipping back below $78,000, trading at approximately $77,952 with a modest 0.4% loss over 24 hours. Ether fell 0.6%, XRP dropped 0.8%, and Solana slid more than 1%. The CoinDesk Memecoin Index and Smart Contract Platform Select Index both fell more than 1%.
Sell Wall at $80,000 Is Structural, Not Fundamental
Alex Kuptsikevich, chief market analyst at FxPro, identified the source of resistance clearly. "Bitcoin has approached the $80,000 mark for the second time in the last few days, but has since experienced significant downward momentum. As it approaches this round figure, a build-up of sell orders is preventing the coin from moving further upwards," he said.
The concentration of sell orders at a round number is a well-documented market microstructure phenomenon, amplified in Bitcoin's case by $80,000 representing a breakeven point for a significant cohort of recent buyers who accumulated during the late 2025 decline. Kuptsikevich, however, argued the pullback is temporary rather than a trend reversal, describing it as consistent with the broader uptrend in place since late March.
Billions in Stablecoin Liquidity and ETF Capital Wait in the Wings
On-chain data reinforces the view that the $80,000 resistance is a timing problem rather than a structural one. Binance recorded approximately $3.4 billion in net stablecoin inflows in April, following $3 billion in March, according to CryptoQuant data -- a signal that fresh capital is accumulating at the edges of the market rather than exiting.
"This indicates an influx of new capital waiting to participate in the recovery," pseudonymous CryptoQuant analyst Darkfost wrote on X.
Institutional demand is equally robust. US-listed spot Bitcoin ETFs have attracted $2.44 billion in investor capital this month -- the strongest monthly inflow since October, when Bitcoin was trading at record highs above $126,000. The combination of stablecoin dry powder and ETF demand suggests that once the $80,000 sell wall is absorbed, the available liquidity could accelerate rather than gradually grind the next leg higher.
DeFi Hacks Hit $623 Million in April Alone
The constructive demand picture is offset by an escalating DeFi security crisis. On Sunday, Sui-based lending platform Scallop was exploited for approximately 150,000 SUI tokens worth around $142,000 -- a relatively small incident that nonetheless adds to a growing list of April attacks including the large-scale Drift and KelpDAO exploits.
Total DeFi hack losses in April alone have reached an estimated $623 million, according to Memento Research. Since the inception of DeFi, cumulative exploit losses have climbed to approximately $7.72 billion per DeFiLlama -- a figure that underscores the persistent structural security vulnerabilities weighing on sector sentiment and institutional confidence in decentralized protocols.
Oil Prices Remain a Macro Wildcard
In traditional markets, energy prices continue to apply upward pressure on the macro environment. WTI crude is hovering above $90 per barrel with Brent trading above $100 -- significantly above the sub-$70 levels that prevailed before the Iran war began in late February. Sustained elevated oil prices risk keeping inflation elevated and financial conditions tighter for longer, a headwind for risk assets including crypto that could complicate Bitcoin's push through $80,000 even if the technical sell wall is eventually cleared.

Analysts have suggested that Bitcoin could approach the $90,000 mark as Polymarket bettors have increased Kevin Warsh's chances of Senate confirmation to 97% by May 15. According to NS3.AI, this development comes after the Department of Justice decided to cease its criminal investigation into Federal Reserve Chair Jerome Powell, thereby eliminating a barrier to Warsh's confirmation.

Bitcoin hit $78,800 and is nearing $80,000 — the most significant psychological level of the year. But a new variable has stalled the breakout: the Pentagon informed Congress in a classified session that clearing the mines in the Strait of Hormuz could take at least 6 months. WTI crude surged to $95 — up from $79 last week — and the 10-year bond yields rose to 4.32%. Sticky inflation = Fed has no room to cut rates.
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