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Public Bitcoin treasury reserves experienced another robust month in May, with entities across various sectors acquiring or revealing 51,045 BTC before sales, resulting in a net acquisition of 43,557 BTC, according to BitcoinTreasuries.net’s May 2026 Corporate Adoption Report.
Valued at $73,579.69 per coin on May 31, these net acquisitions were worth $3.2 billion, continuing a sustained accumulation period even as Bitcoin remained approximately 42% below its peak value.
MicroStrategy maintained its leading position on the leaderboard, securing 25,404 BTC during May and holding the foremost spot among all publicly traded companies based on Bitcoin treasury size. However, its prominence faced increased scrutiny this month following the disclosure of a minor sale of 32 BTC in early June. While this amount represented a mere 0.004% of its total holdings, it marked the company’s first disclosed sale since a brief disposition of 704 BTC in 2022.
Executive chairman Michael Saylor characterized the sale as standard capital management, stating the company’s intention to acquire 10 to 20 BTC for every one sold, emphasizing that they “will never be a net seller of Bitcoin.” CEO Phong Le further elaborated that sales would occur when they enhance Bitcoin per share value, rather than stemming from financial hardship.
MicroStrategy financed a significant portion of its acquisitions through its STRC preferred shares, generating $1.95 billion in ATM proceeds in May from this instrument and retaining a 27% capture rate against the total STRC trading volume for the month.
STRC currently possesses a $10.5 billion market capitalization, making it the largest among all tradeable preferred shares globally. It boasts $375 million in 30-day average liquidity, exhibiting a liquidity approximately 23 to 25 times greater than its closest comparables, including preferred shares from institutions like Wells Fargo and Bank of America.
Strive’s SATA sets new bitcoin acquisition records
While MicroStrategy led in sheer volume, Strive garnered significant attention for its accelerated growth rate. The company added 1,943 BTC in May and an additional 2,500 BTC on June 2, accumulating a total of 4,443 BTC over approximately one month—a quantity equivalent to 30% of its previous holdings.
This acquisition pace surpassed MicroStrategy’s own ratio, with Strive adding Bitcoin equivalent to 30.5% of its existing holdings within a month, compared to MicroStrategy’s 10% during a comparable timeframe.
The driving force behind this rapid acquisition was Strive’s SATA preferred shares, which generated an estimated $276 million in ATM proceeds during May, accounting for 12.4% of all digital credit ATM sales by dollar value. Strive broke its own single-day ATM record on May 29, raising an estimated $87 million in a single session, providing sufficient purchasing power for approximately 1,180 BTC. The company has since announced its intention to commence daily SATA dividend payments on business days starting June 16, positioning it as, in CEO Matt Cole’s words, “the first listed security in the history of U.S. capital markets to pay cash dividends every single business day,” as noted in the bitcointreasuries.net report.
MicroStrategy followed suit with its own dividend adjustment, securing shareholder approval on June 8 for twice-monthly STRC payouts. This change is designed to stabilize STRC’s trading price closer to its $100 par value, diminish cyclical volume declines around ex-dividend dates, and enhance overall liquidity.
Bitcointreasuries.net also highlighted the month’s most substantial single disclosure, originating from SpaceX. The company revealed holdings of 18,712 BTC prior to its expected June 12 IPO, representing over a third of all public treasury additions before sales in May.
SpaceX is anticipated to enter the top ten public Bitcoin treasury leaderboard upon its IPO date. Concurrently, American Bitcoin advanced to the 15th position after acquiring 500 BTC in May, according to the report.
Original article : bitcoinmagazine.com