Strategy buys 1,550 bitcoin for $101 million after selling 32 BTC

Strategy purchased 1,550 bitcoin for about $101 million, expanding its total holdings to 845,256 BTC just one week after selling 32 coins for the first time since 2022.

Executive Chairman Michael Saylor disclosed the acquisition on X on June 8, posting the company's updated reserve figures alongside his signature bitcoin purchase chart. "A good time to add more dots," Saylor wrote on June 7, a post traders have historically interpreted as a precursor to a new buy.

The purchase was funded through Strategy's at-the-market equity program. Between June 1 and June 7, the company sold 1.4 million Class A common shares, generating roughly $181 million in net proceeds, according to an SEC filing. Strategy used about $101 million of that to acquire the 1,550 BTC at an average price of $65,332 per coin — below its overall acquisition average of $75,680. The remaining proceeds boosted the company's USD reserve to $1.0 billion, a pool designated to support dividend payments on preferred stock and interest on outstanding debt.

The acquisition comes as bitcoin trades near $62,867, down about 2 percent in the past 24 hours as of 08:00 UTC on June 8, according to CoinGecko. The leading cryptocurrency briefly fell below $60,000 last week for the first time since October 2024 before rebounding. The downturn has pushed Strategy's unrealized losses past $10 billion, intensifying scrutiny of the company's treasury strategy. The sale of 32 BTC on June 1 — worth roughly $2.5 million — had sparked debate among investors who viewed Strategy as bitcoin's most consistent institutional buyer. CEO Phong Le addressed the speculation in a reply to Saylor's post, writing: "Our corporate @Strategy is to increase net Bitcoin and Bitcoin per share over time. Rumors otherwise are just rumors."

Strategy's latest purchase reaffirms its commitment to aggressive bitcoin accumulation despite a bear market that has erased more than half the value of its holdings from their peak. The company's $1.0 billion cash reserve signals it has ample liquidity to meet its $35 million in annual convertible debt interest and $1.7 billion in preferred dividend obligations, even as bitcoin remains under pressure. With 845,256 BTC on its balance sheet — worth roughly $54 billion at current prices, or nearly eight times its $6.7 billion in convertible debt — Strategy's financial engine remains intact, though the path to profitability depends entirely on bitcoin's next bull cycle.

This article is for informational purposes only and does not constitute investment advice.