Strategy, led by popular Bitcoin proponent Michael Saylor, purchased another 1,550 Bitcoins for approximately $101 million. The most recent acquisition was made between June 1 and June 7 at an average price of $65,332 per Bitcoin.
Following the announcement, Bitcoin rose 3.5%, which helped improve market sentiment after Bitcoin briefly fell below $59,500.
The strategy adds more Bitcoin to its growing reserve
The latest purchase comes less than two weeks after the strategy revealed the sale of 32 Bitcoin, the first Bitcoin sale since 2022.
With this buyingStrategy’s total Bitcoin holdings have risen to 845,256 BTC, making it one of the largest Bitcoin holders in the world. The company said the latest purchase is part of its long-term strategy to use Bitcoin as a primary treasury reserve asset.
The purchase also marks Strategy’s first Bitcoin acquisition since its last Bitcoin-related sale, indicating that the company remains committed to accumulating the digital asset despite ongoing market volatility.
The company is enhancing cash reserves alongside Bitcoin Holdings
The announcement was accompanied by a statement from Saylor, who revealed that the company had also increased its cash reserves.
The strategy also increased its US dollar reserves by $100 million, bringing its total cash holdings to $1 billion. To fund both initiatives, the Company issued approximately $181 million of common stock during this period.
While supporters view the move as another strong vote of confidence in Bitcoin, some critics continue to point to shareholder dilution caused by frequent stock sales.
After the latest purchase, Strategy spent just under $64 billion to acquire its Bitcoin holdings. However, with Bitcoin currently trading below the company’s average purchase price of $75,680, its holdings show an unrealized loss of about $10.4 billion.
Bitcoin price reacts positively
Despite concerns about broader market conditions, investors reacted positively to the announcement. Shortly after the news, Bitcoin jumped about 3.5% and traded above $63,800.
This rebound comes after Bitcoin recently fell below $59,500 amid market uncertainty.
Many traders see the strategy’s continued accumulation as a sign of long-term confidence in Bitcoin’s future.
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