Strategy has purchased another 520 Bitcoin for about $34.9 million between June 15 and June 21, extending its corporate accumulation strategy while MSTR stock gained in premarket trading on Monday.
The company disclosed in an 8-K filing that the latest Bitcoin purchase was made at an average price of $67,068 per BTC, including fees and expenses. The acquisition was funded with proceeds from Strategy’s at-the-market equity program, which remains a central source of capital for its Bitcoin treasury plan.
Strategy sold 2.71 million Class A common shares during the same period, generating about $335.5 million in net proceeds. The company said it did not sell shares from its preferred stock programs during the week, while its U.S. dollar reserve increased to $1.4 billion as of June 21.
Strategy Expands Bitcoin Holdings to 847,363 BTC
Following the latest purchase, Strategy holds 847,363 BTC acquired for about $64.1 billion. The company’s average purchase price is now $75,651 per Bitcoin, leaving its treasury position below cost while Bitcoin trades near the mid-$60,000 range.
Bitcoin traded around $65,099 after the announcement, showing a small daily rebound but remaining lower over the past month. At that price level, Strategy’s Bitcoin position is valued below its total acquisition cost, keeping market focus on the company’s funding structure and balance sheet resilience.
Michael Saylor previewed the purchase a day earlier with a post on X showing Strategy’s Orange Dots Bitcoin acquisition chart and the caption, “Looks better with more dots.” The post followed a pattern that traders have associated with Monday purchase announcements from the company.
Strategy remains the world’s largest corporate Bitcoin holder. Its total position is far above other public companies, and its buying activity continues to be watched by investors who track institutional Bitcoin demand and corporate treasury adoption.
MSTR Stock Rises as Investors Track Capital Raises
MSTR stock rose about 3% in premarket trading after the purchase disclosure, reflecting investor attention on Strategy’s continued Bitcoin accumulation and its ability to raise capital through common shares. The stock often moves with Bitcoin because the company’s valuation is closely tied to its BTC holdings.
The latest purchase was smaller than some of Strategy’s previous acquisitions, even though the company raised more than $335 million through share sales during the week. That gap suggests the company is also prioritizing liquidity, reserve management and support for its outstanding credit and preferred equity instruments.
Strategy reported that its U.S. dollar reserve increased by $300 million to $1.4 billion. The reserve is used to support dividend payments on preferred stock and interest payments on debt, which has become a key issue for investors analyzing the company’s Bitcoin-backed capital structure.
The company has issued several capital market products tied to its treasury strategy, including preferred shares such as STRC. Recent weakness in STRC, which traded below its $100 stated amount, has led to debate over dividend costs, investor demand, and how the structure performs during Bitcoin price declines.
STRC Debate Continues as Bitcoin Treasury Model Faces Test
JAN3 CEO Samson Mow said STRC has a self-repairing mechanism when it trades below par. He argued that lower market prices increase the effective yield for buyers because dividends are calculated against the $100 stated amount, not the lower trading price.
Mow said that when STRC trades below par, Strategy stops issuing new shares through the at-the-market program, which prevents discounted capital raises from adding new perpetual dividend obligations. He also said below-par trading can create pull-to-par incentives for investors seeking both higher yield and capital gains.
That view contrasts with concerns from critics who argue that Strategy’s use of equity, preferred shares, and debt creates funding pressure when Bitcoin trades below the company’s average cost basis. The company’s current Bitcoin position remains below its purchase cost, but Strategy has continued buying through market weakness.
