Strategy (Nasdaq: MSTR) acquired 1,587 bitcoin for approximately $100 million between June 8 and June 14, according to an SEC 8-K filing released Monday. The purchase brings the company's total bitcoin holdings to 846,842 BTC, representing over 4% of Bitcoin's 21 million coin supply and solidifying its position as the world's largest corporate bitcoin holder.
Funding Through Equity Sales
The company funded the acquisition at an average price of $63,024 per bitcoin through its at-the-market (ATM) stock offering program. Strategy sold approximately 1.73 million MSTR shares last week, raising roughly $209 million. The company maintains $25.75 billion worth of available shares under its current ATM program.
Strategy's total bitcoin position carries an average acquisition cost of $75,656 per coin, representing a total investment of approximately $64.1 billion including fees and expenses. With bitcoin trading near $66,000, the company currently holds around $8 billion in unrealized losses.
Treasury Reserve Management Signals Strategic Shift
The company's USD Reserve increased to $1.1 billion as of June 14, up from $1 billion the previous week. This reserve, established to cover dividend payments on preferred shares and debt interest, drew attention from JPMorgan analysts last week after Strategy sold 32 BTC on June 1—a rare move that reportedly unsettled markets.
Shareholders recently approved transitioning STRC preferred stock dividend payments from monthly to twice monthly, a change President and CEO Phong Le said aims to "stabilize price, dampen cyclicality, drive liquidity, and grow demand for STRC."
The STRC preferred stock offering, which carries an 11.5% annualized rate and previously served as Strategy's primary bitcoin acquisition vehicle, has not been used for purchases over the past month as it struggles to maintain its $100 par value since mid-May.
Implications for Crypto Professionals
For blockchain professionals tracking corporate adoption trends, Strategy's continued accumulation strategy demonstrates sustained institutional commitment despite market volatility. The company's expanded ATM programs—including up to $21 billion in additional MSTR shares, $21 billion in STRC preferred stock, and $2.1 billion in STRK preferred stock—suggest ongoing acquisition plans that may influence broader corporate treasury strategies and related finance, compliance, and treasury management roles in the digital asset sector.
