Saylor Dots His I's and Crosses 845,256: Strategy Snaps Up 1,550 $BTC, Pockets $1B in Cash 🟧

Strategy (MSTR) acquired 1,550 bitcoin for approximately $101.3 million during the first week of June, lifting its total holdings to 845,256 $BTC, according to a Monday 8-K filing with the U.S. Securities and Exchange Commission. The purchase was made at an average price of $65,332 per bitcoin, below the company's overall average acquisition price of $75,680. Aggregate holdings of 845,256 $BTC were acquired for just under $64 billion, or about $63.97 billion as disclosed in the filing. The buy was funded through $181 million in net proceeds from sales of Class A common stock via the company's at-the-market offering program.

The acquisition marked a return to buying after Strategy sold 32 $BTC on June 1, its first sale since 2022. Bitcoin fell around 15% in the days around the sale, briefly trading below $60,000 before rebounding above $62,000. The latest buy was accompanied by a $100 million increase in U.S. dollar reserves, bringing Strategy's total cash reserves to $1 billion. Executive Chairman Michael Saylor referenced the resumption on Sunday via X, writing that it was "a good time to add more dots."

The disclosure drew market reaction, with MSTR shares rising 6.55% in pre-market trading to $126.90, according to Yahoo Finance data at the time of writing. At bitcoin's price of about $63,600, Strategy's 845,256 $BTC stack is worth roughly $53.8 billion.

Separately, Strategy said Monday that shareholders approved a change in the dividend payment cadence for its STRC preferred stock to semi-monthly, on the 15th and at month-end, beginning July 15 for shareholders of record on June 30.

The purchase drew commentary from industry figures. CryptoQuant CEO Ki Young Ju pushed back on criticism of Saylor on Friday after CNBC host Jim Cramer accused him of "murdering Bitcoin," arguing that bitcoin would have fallen to $22,000 if not for Strategy's purchases. In a Monday report, Bernstein analysts highlighted Strategy's continued accumulation through a roughly 50% drawdown and reiterated an "Outperform" rating with a $450 price target on the stock.