Quick Overview
- Strategy acquired 1,550 BTC valued at approximately $101.3 million, expanding its Bitcoin reserves to 845,256 BTC total.
- The acquisition was executed at an average cost of $65,332 per Bitcoin — significantly lower than the firm’s cumulative average of $75,680.
- The capital for this purchase originated from $181 million generated through its at-the-market equity offering program.
- This acquisition follows a controversial 32 BTC liquidation last week, marking Strategy’s first sale since 2022, which occurred alongside a 15–21% Bitcoin market decline.
- MSTR shares advanced 6.55% during pre-market hours, reaching $126.90 after the disclosure.
Strategy (MSTR) has returned to its Bitcoin accumulation strategy. The firm acquired 1,550 BTC valued at approximately $101.3 million, as disclosed in an 8-K filing submitted to the SEC on Monday. MSTR shares climbed 6.55% to $126.90 during pre-market trading in response to the announcement.
This latest acquisition elevates Strategy’s cumulative Bitcoin position to 845,256 BTC, purchased at a blended average cost of $75,680 per unit, representing a total investment of approximately $63.97 billion.
With Bitcoin currently trading near $63,600, the company’s cryptocurrency holdings are valued at roughly $53.8 billion.
The recent purchase was executed at an average price point of $65,332 per BTC — notably beneath the firm’s aggregate average cost, effectively reducing Strategy’s overall cost basis across its entire Bitcoin portfolio.
To finance this acquisition, Strategy generated $181 million through equity sales utilizing its at-the-market offering program throughout the initial week of June.
The organization also allocated a portion of these proceeds to strengthen its U.S. dollar cash position by $100 million, elevating total liquid reserves to $1 billion.
Resuming Accumulation Following Market Turbulence
This acquisition arrives after a challenging period. On June 1, Strategy liquidated 32 BTC — representing its initial Bitcoin[[/LINK_END_3]] sale since 2022 — for approximately $2.5 million. While modest in scale, the transaction triggered significant market reaction.
Bitcoin experienced a decline of approximately 15–21% subsequent to the sale, temporarily dipping below $60,000 for the first occasion in four months before stabilizing above $62,000. The transaction generated criticism from market participants, with some expressing concerns about a potential “doom loop” scenario should Strategy face pressure to liquidate larger holdings.
CNBC personality Jim Cramer notably accused Michael Saylor of “murdering Bitcoin.” CryptoQuant CEO Ki Young Ju countered these claims, suggesting that absent Strategy’s consistent purchasing activity, Bitcoin could have declined to $22,000.
Market Analysts Maintain Optimistic Outlook
Saylor remained confident. On Sunday, he shared on X that conditions were favorable to “add more dots” — his characteristic reference to accumulating additional Bitcoin.
Bernstein analysts reinforced this perspective in a Monday research note. They emphasized Strategy’s capacity to continue expanding its Bitcoin holdings throughout an approximately 50% price correction, citing the company’s overcollateralized and liquid financial position.
Bernstein maintained an “Outperform” rating alongside a $450 price objective for MSTR.
The 1,550 BTC acquisition represents Strategy’s initial purchase following the June 1 sale and confirms the company’s return to active accumulation strategy.
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