Public Companies Added 43,557 BTC in May as SpaceX Enters Bitcoin Treasury Race

Bitcoin Magazine

Public Companies Added 43,557 BTC in May as SpaceX Enters Bitcoin Treasury Race

Public Bitcoin treasury holdings posted another strong month in May, with companies across sectors adding or disclosing 51,045 BTC before sales, or 43,557 BTC net, according to BitcoinTreasuries.net’s May 2026 Corporate Adoption Report. 

At the May 31 price of $73,579.69 per coin, those net additions were worth $3.2 billion — extending a months-long accumulation streak even as Bitcoin sat roughly 42% below its all-time high.

Strategy maintained its position at the top of the leaderboard, acquiring 25,404 BTC in May and holding the No. 1 spot among all public companies by Bitcoin treasury size. But its dominance drew more scrutiny this month after the company disclosed a sale of 32 BTC in early June — a figure so small it amounted to 0.004% of its total holdings, but one that marked its first disclosed sale since briefly selling 704 BTC in 2022. 

Executive chair Michael Saylor framed the sale as routine capital management, saying the company intends to buy 10 to 20 BTC for every one it sells and will “never be a net seller of Bitcoin.” CEO Phong Le added that sales will occur when accretive to Bitcoin per share — not out of financial distress.

Strategy funded the bulk of its purchases through its STRC preferred shares, generating $1.95 billion in ATM proceeds in May from the instrument and maintaining a 27% capture rate against total STRC trading volume for the month. 

STRC now carries a $10.5 billion market cap — the largest of any tradeable preferred share in the world — and boasts $375 million in 30-day average liquidity, approximately 23 to 25 times more liquid than the next-largest comparables, including preferred shares from Wells Fargo and Bank of America.

While Strategy led in raw volume, Strive drew the most attention for growth rate. The company added 1,943 BTC in May and another 2,500 BTC on June 2, for a combined total of 4,443 BTC over roughly one month — a figure equal to 30% of its prior holdings. 

That pace outstripped Strategy’s own ratio: Strive added Bitcoin equal to 30.5% of its existing stack in one month, compared to Strategy’s 10% over a similar period.

The engine behind the buying spree was Strive’s SATA preferred shares, which raised 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 one session — enough buying power for approximately 1,180 BTC. The company has since announced it will begin paying SATA dividends every business day starting June 16, becoming what CEO Matt Cole described as “the first listed security in the history of U.S. capital markets to pay cash dividends every single business day,” according to the bitcointreasuries.netreport.

Strategy followed with its own dividend shift, winning shareholder approval on June 8 for twice-monthly STRC payouts — a change intended to stabilize STRC’s trading price closer to its $100 par value, reduce cyclical volume drops around ex-dividend dates, and improve liquidity.

Bitcointreasuries.net also touched on the month’s largest single disclosure coming from SpaceX, which revealed holdings of 18,712 BTC ahead of its anticipated June 12 IPO — representing more than one-third of all public treasury additions before sales in May. 

The company is expected to enter the top ten public Bitcoin treasury leaderboard on its IPO date. American Bitcoin, meanwhile, climbed to No. 15 after adding 500 BTC in May, according to the report.

This post Public Companies Added 43,557 BTC in May as SpaceX Enters Bitcoin Treasury Race first appeared on Bitcoin Magazine and is written by Micah Zimmerman.