Strategy Inc (NASDAQ:MSTR) shares are trending higher Tuesday as the company continues to aggressive build its Bitcoin (CRYPTO: BTC) treasury.

The Nasdaq is up 1.05% while the S&P 500 has gained 0.61%.

In a recent update, the firm revealed its total holdings have reached 818,334 BTC, acquired at an average price of $75,537 per coin.

Building the Crypto Reactor

Executive Chairman Michael Saylor recently described the company's model as a “crypto reactor” during an appearance on the “What Bitcoin Did” podcast. Saylor argues that Bitcoin serves as “digital capital” in an AI-driven economy. He noted that the firm leverages holdings to support financial products, aiming to “reduce exposure to volatility while still capturing upside.”

Treasury Expansion and ATM Activity

According to a Monday United States Securities and Exchange Commission filing, Strategy sold 492,210 shares of Class A common stock between April 27 and May 3. These sales generated approximately $82 million in net proceeds.

The company still maintains $26.39 billion in available capacity under its current at-the-market offering program.

Market Dominance and Competition

Strategy now controls roughly 3.9% of the total Bitcoin supply. While competitors like MARA Holdings Inc (NASDAQ:MARA) and Twenty One Capital Inc (NYSE:XXI) are accumulating coins, Strategy's stockpile accounts for nearly two-thirds of all corporate-held Bitcoin globally.

MSTR Stock Price Activity: Strategy shares were up 2.01% at $187.49 at the time of publication on Tuesday, according to Benzinga Pro data.

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