Strategy buys 535 BTC for $43M days after hinting it could sell — Saylor doubles down!

Michael Saylor's Strategy added 535 bitcoin for roughly $43 million last week at an average price of $80,340 per coin, bringing total holdings to 818,869 BTC acquired for $61.86 billion at an average cost basis of $75,540. With bitcoin trading above $81,000, the entire stack is currently in profit.

The timing is notable: the purchase comes just days after Strategy's Q1 earnings call, where the company disclosed it was prepared to sell bitcoin to service convertible debt or fund dividend obligations — provided any sale remained accretive on a bitcoin-per-share basis. The $42.9 million used for last week's buy was raised through preferred stock sales, per a May 11 SEC filing.

The move echoes Strategy's 2022 tax-loss harvesting playbook, when it sold 704 BTC in December before rebuying 810 BTC two days later. With bitcoin down 23% in Q1 2025, Strategy booked a $12.54 billion unrealized…