Strategy has scooped up another 1,587 Bitcoin, spending roughly $100 million at an average price just above $63,000. The purchase brings the company's total stash to 846,842 BTC — worth nearly $56 billion at current prices. The firm also padded its dollar reserves by $100 million, now sitting on $1.1 billion in cash and equivalents.
A $100 Million Buy
The June 13 acquisition, disclosed Monday, is Strategy's largest single Bitcoin purchase this quarter. At an average entry of $63,000, the company added to a position that already made it the biggest corporate holder of the cryptocurrency. It now controls about 4% of all Bitcoin that will ever exist.
The 32-BTC Trigger
Two weeks earlier, on June 1, Strategy sold just 32 Bitcoin — a rounding error compared to its total holdings. The sale was meant to support preferred stock dividend distributions. But the market didn't see it that way. The sell-off fueled FUD that pushed Bitcoin below $60,000 for the first time in 19 months. The price drop erased billions in paper value across the sector before recovering over the following days.
Cash Pile Grows
Strategy boosted its USD reserves by $100 million to $1.1 billion, likely to fund future purchases or meet operational needs. The move comes after the company raised additional capital through convertible note offerings earlier this year. For a firm that buys Bitcoin with debt and equity, a strong cash buffer matters.
The next test for Strategy will be whether it can keep buying without spooking a market that's already on edge. One small sale sent Bitcoin tumbling. The next one might not get the same — or any — benefit of the doubt.
