- Strategy purchased 1,587 BTC for $100 million last week at an average price of $63,024, lowering its overall cost basis to $75,656.
- The acquisition was funded by the sale of 1.73 million shares of its Class A common stock (MSTR), which raised about $209 million.
- The company’s first reported BTC sale in years, involving just 32 Bitcoin on June 1, sparked community debate about its strategy.
- Strategy now holds 846,842 BTC worth approximately $56.1 billion at current prices, according to CoinGecko.
Last week, while Bitcoin traded below its average buy-in price, Strategy, led by Michael Saylor, added another $100 million to its massive cryptocurrency reserves. The company acquired 1,587 BTC between June 8 and Sunday, according to an SEC filing, paying an average of $63,024 per coin.
This purchase slightly reduced the firm’s overall average cost basis to $75,656 per Bitcoin. The funds for the acquisition came from the sale of 1.73 million MSTR shares, which raised about $209 million.
Executive Chairman Michael Saylor hinted at the move on Sunday, writing, “Still adding dots,” a known signal for impending buys. Consequently, Strategy‘s total holdings now stand at 846,842 BTC, acquired for a total cost of $64.07 billion.
Meanwhile, the company’s recent minor sale of 32 BTC ignited debate about its long-term hold strategy. Saylor defended the action, telling Cointelegraph that Bitcoin treasury companies must retain selling capability to support dividend-paying securities.
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