Strategy buys $101 million of Bitcoin, bringing holdings to 845k BTC

Strategy bought 1,550 Bitcoin for about $101 million, its first purchase since a controversial 32‑coin sale, and now holds 845,256 BTC acquired for just under $64 billion [1]. Executive Chairman Michael Saylor announced the buy on social media, noting the average price of $65,332 per coin—roughly $10,000 below the company’s overall cost basis—leaving the full position with an implied paper loss of about $10.5 billion at current prices [1].

The acquisition was funded by at‑the‑market sales of Class A common stock, which raised roughly $181 million after selling 1,409,600 shares last week [1]. The proceeds not only covered the Bitcoin purchase but also lifted Strategy’s cash reserves from $900 million to $1 billion, a step analysts say was needed to restore institutional confidence [1]. The move reversed a week‑long pause after Strategy sold 32 BTC between May 26‑31 for $2.5 million to fund a dividend on its STRC preferred stock, its first disposal since late 2022 [1][3].

Investors reacted sharply: MSTR shares rose 5.4%‑6% in pre‑market trading, while crypto‑related stocks such as Coinbase and Robinhood also climbed [3]. The price rally came as Bitcoin recovered from a dip below $60,000, trading around $63,700, and helped lift broader market sentiment after a period of weakness [3]. Yet analysts warn that the company’s treasury remains vulnerable; the preferred stock trades below par, making future ATM purchases of preferred shares expensive, and continued Bitcoin price declines could force further equity dilution [1][2].

The significance lies in whether Strategy’s renewed buying signals a durable commitment to its Bitcoin treasury or merely a short‑term boost to appease shareholders. With the firm holding more than 4% of Bitcoin’s total supply and still possessing nearly $26 billion of ATM capacity, the next purchase announcement—or a second sale—will test the durability of its “buy‑the‑dip” strategy and shape investor expectations for both the stock and the cryptocurrency market.