Strategy Buys 1,587 BTC, Holds 846,842, and Still Refuses to Read the Room 🧡

Strategy, the Tysons Corner, Virginia-based software company turned largest corporate Bitcoin holder, disclosed in a Monday 8-K filing with the US Securities and Exchange Commission that it acquired 1,587 BTC for $100 million between June 8 and June 14, paying an average price of $63,024 per coin. The company now holds 846,842 BTC, accumulated at a blended average cost of $75,656, totaling $64.07 billion. At a market price of roughly $66,216 per bitcoin, the holdings are valued at approximately $56.1 billion, according to CoinGecko data. Bitcoin traded above $66,000 on the day, up around 4% over the prior 24 hours.

The purchase was funded entirely through the sale of 1,732,553 shares of Class A common stock ($MSTR) via the company's at-the-market program, generating $209 million. None of the firm's preferred share programs, including $STRC, $STRF, $STRK or $STRD, were tapped during the period. The $100 million spent on Bitcoin represented less than half of the $209 million raised, with the remaining $100 million added to Strategy's USD Reserve, which now stands at $1.1 billion. The reserve was established in December 2025 to cover preferred share dividends and interest on debt, and the latest allocation comes as $STRC, which offers an 11.5% annual dividend, shifted from monthly to semi-monthly payouts. According to STRC.live, $STRC traded below its $100 par value for a fourth consecutive week, closing at $94.80 on Friday, down around 1%, per TradingView data. JPMorgan analysts said last week that "a rebuilding of the company's dollar reserves might be needed to restore confidence and reduce investor concerns."

The disclosure came alongside an 8% surge in $MSTR shares, which jumped 7.2% to $132.66 and traded as high as $136 after the opening bell, according to Yahoo Finance. It marked the second consecutive week of acquisitions and follows a separate disclosure on June 1 that Strategy had sold 32 BTC for $2.5 million, its first reported Bitcoin sale in years, to cover dividend obligations. Strategy Executive Chairman Michael Saylor signaled the latest buy in a Sunday post on X, writing, "Still adding dots," a phrase the company has used to preview prior Bitcoin purchases. On the same day, Saylor also referenced a "conservative risk metric" for Strategy, dubbed CEBE BPS, which tracks Bitcoin owned per share after senior claims.

Strategy's average entry price of $75,656 remains above the current market, leaving its holdings roughly $7.8 billion underwater, with a first-quarter unrealized loss of $14.5 billion previously reported. Analyst Quinn Thompson noted that $MSTR trades near 0.8 times the net value of its Bitcoin. The company continues to hold approximately 4% of the bitcoin supply that will ever exist. Other corporate buyers are also active: Strive, the Bitcoin treasury firm associated with Vivek Ramaswamy, purchased 73 BTC for $4.7 million last week, bringing its total holdings to 19,105 BTC.