Strategy (formerly MicroStrategy) added another 1,587 BTC to its corporate treasury between June 8 and June 14, spending $100 million at an average price of $63,024 per bitcoin. The purchase, disclosed in an SEC filing, lifts the company’s total bitcoin holdings to 846,842 BTC — more than 4% of bitcoin’s fixed supply cap.
The latest acquisition was financed by at-the-market sales of MSTR common stock, which raised roughly $209 million from 1.73 million shares sold last week. Strategy still has $25.75 billion worth of MSTR shares available for issuance under the program.
Alongside the bitcoin buy, Strategy increased its USD reserve to $1.1 billion, up from $1 billion a week earlier. The company emphasized the importance of liquidity after recent market concerns, including a small 32 BTC sale that analysts interpreted as a need for larger cash buffers to cover preferred-stock dividends.
Strategy’s funding model — issuing equity or preferred securities to accumulate bitcoin — is under scrutiny. The variable-rate preferred shares STRC, which carry an annualized dividend rate of 11.5%, have struggled to regain par value since mid‑May and have not been used for bitcoin purchases in the past month. Shareholders recently approved a shift to twice‑monthly dividend payments in an effort to stabilize the price.
At current bitcoin prices, Strategy’s holdings imply about $8.1 billion in unrealized losses versus the aggregate purchase cost of $64.1 billion. While the company continues to execute its accumulation strategy, the market is increasingly focused on funding quality, reserve coverage, and whether the premium on its stock relative to bitcoin’s net asset value can be sustained during a bitcoin drawdown.
