Key Highlights
- Strategy acquired 1,550 Bitcoin for approximately $101.3 million, expanding its reserve to 845,256 BTC.
- The acquisition price averaged $65,332 per Bitcoin — notably under the firm’s cumulative average of $75,680.
- The capital for this purchase originated from $181 million raised through at-the-market equity sales.
- This acquisition follows the company’s contentious 32 BTC liquidation last week, its first since 2022, which preceded a 15–21% Bitcoin price decline.
- Pre-market trading saw MSTR climb 6.55% to reach $126.90 after the disclosure.
Strategy (MSTR) has resumed its Bitcoin accumulation strategy. The enterprise disclosed the acquisition of 1,550 BTC valued at approximately $101.3 million through a Monday SEC 8-K filing. The announcement propelled MSTR shares up 6.55% to $126.90 during pre-market hours.
This transaction elevates Strategy’s Bitcoin portfolio to 845,256 BTC, accumulated at a combined average cost of $75,680 per unit, representing a total investment of approximately $63.97 billion.
Based on Bitcoin’s current trading level near $63,600, the company’s digital asset position is valued at roughly $53.8 billion.
The recent acquisition was executed at an average rate of $65,332 per Bitcoin — positioned below the organization’s portfolio-wide average, effectively reducing Strategy’s overall cost basis across its entire position.
To finance this transaction, Strategy generated $181 million through equity offerings using its at-the-market program throughout the initial week of June.
Additionally, the company allocated a portion of these funds to strengthen its U.S. dollar reserves by $100 million, elevating total cash holdings to $1 billion.
Resuming Accumulation Following Market Turbulence
This purchase arrives after a period of significant market volatility. On June 1, Strategy liquidated 32 BTC — marking its initial Bitcoin sale since 2022 — generating approximately $2.5 million. Despite being a modest transaction, market participants responded dramatically.
Bitcoin experienced a decline of roughly 15–21% subsequent to the sale, momentarily dipping beneath $60,000 for the first time in four months before climbing back above $62,000. The transaction triggered widespread criticism from market participants, with some expressing concerns about a potential “doom loop” scenario should Strategy be compelled to liquidate larger holdings.
CNBC personality Jim Cramer publicly criticized Michael Saylor, accusing him of “murdering Bitcoin.” CryptoQuant’s CEO Ki Young Ju offered a counterargument, suggesting that absent Strategy’s consistent acquisitions, Bitcoin’s price would have descended to $22,000.
Wall Street Maintains Positive Outlook
Saylor remained composed amid the controversy. On Sunday, he shared on X that it represented “a good time to add more dots” — his characteristic reference to additional Bitcoin purchases.
Bernstein analysts echoed this sentiment in a Monday research note. They emphasized Strategy’s demonstrated capacity to expand its Bitcoin holdings through approximately 50% price corrections, citing the company’s overcollateralized and liquid financial position.
Bernstein maintained its “Outperform” rating alongside a $450 price objective for MSTR.
The 1,550 BTC acquisition represents Strategy’s initial purchase following the June 1 liquidation and signals the company’s definitive return to its accumulation strategy.
