Strategy added 520 Bitcoin to its treasury yesterday, spending about $35 million at current prices. The purchase brings its total hoard to 847,363 BTC — by far the largest corporate bitcoin stack in the world. At the same time, the company boosted its cash reserve by $300 million, taking it to $1.4 billion. Michael Saylor announced both moves on X late Monday.
A modest buy by Strategy's standards
The 520-coin acquisition is small relative to Strategy's own history. The company has made larger single purchases in the past, and the sum — roughly $35 million — is less than 0.5% of its total bitcoin holdings. Still, it shows the firm continues to accumulate even as prices hover around $65,100.
Why the cash pile grew
The $300 million increase in Strategy's dollar reserves isn't for buying more bitcoin — at least not directly. Saylor said the extra cash is meant to strengthen the credit quality of Strategy's Digital Credit securities. Those securities, a type of debt product linked to the company's bitcoin holdings, need adequate backing to maintain investor confidence. The move signals that Strategy is managing its leverage carefully.
Saylor's message
On June 22, Saylor posted the update directly to his 3 million followers on X. He didn't elaborate on timing or market conditions. But the dual announcement — bitcoin purchase plus reserve increase — fits a pattern: Strategy typically pairs accumulation with capital-market moves to keep its balance sheet in check.
Bitcoin at $65,100
Bitcoin was trading around $65,100 when the purchase was disclosed. That's a bit off recent highs but still well above the average price Strategy has paid for its massive stash. The company's total cost basis is roughly $35 billion, meaning it's sitting on substantial unrealized gains.
What comes next? Strategy has a long-running pattern of buying bitcoin every few weeks. With its cash reserve now at $1.4 billion, it has plenty of dry powder. The next 13F filing will show whether Saylor keeps up the pace.
