Image credit: Strategy
Strategy has resumed Bitcoin purchases, buying 1,550 BTC for about $101.3 million days after a rare sale raised concern over its long-running treasury model.
The company paid an average price of $65,332 per bitcoin between June 1 and June 7. The purchase lifted Strategy’s total holdings to 845,256 BTC, bought for about $63.97 billion at an average cost of $75,680.
New Buy is Nearly 50 Times May Sale
The purchase showed Strategy returned to accumulation after selling 32 BTC the previous week.
The new buy was nearly 50 times larger than the amount sold in late May. That made the latest filing important for investors watching whether the company’s Bitcoin reserve strategy had shifted.
Strategy Raised $181M Through MSTR Shares
Strategy’s latest filing shows the company used proceeds from common stock sales under its at-the-market program to fund the new Bitcoin purchase.
It sold 1,409,600 MSTR shares during the week, raising about $181 million in net proceeds. The filing shows Strategy is still willing to issue equity to expand its Bitcoin holdings.
32 BTC Sale Funded Preferred Payouts
The disclosure came one week after Strategy said it sold 32 BTC for about $2.5 million between May 26 and May 31. That sale was made at an average price of $77,135 per Bitcoin.
Strategy said the proceeds were expected to fund preferred stock distributions. The sale was small compared with Strategy’s balance sheet, but it drew attention because the company has built its public identity around holding and adding Bitcoin.
Cash Reserve Rises to $1B
Strategy also increased its U.S. dollar reserve to $1 billion as of June 7, up from $900 million at the end of May. The reserve is meant to support preferred stock dividends and interest on outstanding debt.
The company declared preferred stock dividends payable on June 30 to holders of record on June 15. The filing shows Strategy is still using equity issuance to fund Bitcoin purchases while keeping cash available for preferred-stock obligations.
