Strategy boosted its Bitcoin portfolio by purchasing 1,550 BTC for around $101.3 million, raising its total stash to 845,256 Bitcoin. This latest acquisition came at an average cost of $65,332 per coin and followed the company’s previous sale of 32 BTC, marking a return to accumulation after a pause since 2022.
The purchase was funded by proceeds from the company’s recent sales of Class A common stock under its at-the-market offering program, which generated net proceeds of $181 million during the first week of June. Strategy’s aggregate Bitcoin holdings carry an average cost basis of approximately $75,680 per BTC, totaling roughly $63.97 billion in investment.
At current Bitcoin market prices near $63,600, Strategy’s reserves are valued at about $53.8 billion. Following the disclosure of the new acquisition, the company’s shares gained over 6% in pre-market trading. The renewed buying activity came just days after Bitcoin’s price tumbled sharply, falling 21% in response to market reactions around the firm’s prior small sale and broader volatility.
The move drew broad attention in the crypto space, where critics feared that any forced liquidation by such a large holder could trigger further downward pressure on Bitcoin’s price. However, some analysts and market observers defended Strategy’s approach, noting the firm’s strong, liquid balance sheet and its ability to absorb price fluctuations.
Analysts from Bernstein underscored Strategy’s resilience through a significant drawdown of Bitcoin’s value and maintained an “Outperform” rating with a $450 target for its stock. Supporters also highlighted the importance of the company’s acquisitions in cushioning Bitcoin from even steeper declines during downturns.