Strategy buys 1,550 bitcoin, adds $100M to reserves

Strategy (MSTR) has purchased 1,550 bitcoin for around $101 million, according to a Monday announcement from Executive Chairman Michael Saylor. This brings the company’s total bitcoin holdings to 845,256 $BTC.

The acquisition comes after bitcoin’s price dropped roughly 15% last week, briefly falling below $60,000 before recovering to above $62,000. The decline followed Saylor’s sale of 32 bitcoin on June 1, which may have contributed to market uncertainty.

This is the first bitcoin purchase since that sale, and it expands Strategy’s digital asset reserve while also boosting balance sheet liquidity. The company disclosed it increased its U.S. dollar reserves by $100 million, reaching total cash reserves of $1 billion.

Funding and average price

To finance both the bitcoin buy and the cash addition, Strategy issued $181 million in common stock during the period. The latest bitcoin purchase was made at an average price of $65,332 per coin, notably below the company’s overall average acquisition cost of $75,680.

After this transaction, Strategy holds 845,256 bitcoin acquired for just under $64 billion in total. That means the firm’s bitcoin portfolio is currently sitting on paper losses, given the gap between the latest price and the average cost basis.

Market context and scrutiny

Saylor’s moves are attracting increased attention. Some observers question whether the company’s aggressive bitcoin accumulation strategy is sustainable, especially when prices are volatile. Critics also point to the reliance on stock sales to fund purchases, which can dilute existing shareholders.

Read more: Michael Saylor revives bitcoin-buy speculation as scrutiny over Strategy grows.

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