Strategy Acquires More Bitcoin This Week: 1,587 BTC for $100 Million
Led by Michael Saylor, Strategy has increased its total Bitcoin (BTC) reserves to 846,842 units with a new purchase worth $100 million.
One of the largest institutional investors in the cryptocurrency world, Strategy continues its Bitcoin accumulation strategy without slowing down. The company’s co-founder and executive chairman, Michael Saylor, sent a strong message of confidence to the market by announcing via social media that they have added new “dots” to their portfolio. This move once again proved that institutional investors have not strayed from their long-term goals despite market fluctuations.
In this latest operation carried out between June 8 and June 14, the company purchased 1,587 BTC for approximately $100 million. This purchase was made at an average price of $63,024 per Bitcoin. With the latest data, Strategy’s total holdings have reached 846,842 BTC. The company’s massive treasury corresponds to more than 4 percent of Bitcoin’s total supply of 21 million.
Strategy’s Bitcoin Treasury and Financial Strategy
The company used proceeds from the sale of its shares, traded under the ticker MSTR, to fund these purchases. Having sold approximately $209 million worth of shares last week, the institution did not neglect to strengthen its cash reserves. As of June 14, the company’s dollar reserves rose to $1.1 billion, renewing investor confidence. This increase in cash is critical, especially for dividend payments and operational sustainability.
As highlighted in the visual, the Strategy brand has now become inseparable from Bitcoin. Including expenses, the company’s total cost stands at approximately $64.1 billion, with an average purchase price calculated at $75,656. Although there is a paper loss under current market conditions, Saylor maintains his faith in Bitcoin’s long-term performance. Among public companies holding Bitcoin treasuries, Strategy continues its leadership, far ahead of giants like Tether-backed Twenty One, Metaplanet, and Coinbase.