- Strategy acquired 245 Bitcoin between 16–22 June for US$26 million (AU$40.14 million)
- The firm has now purchased 592,345 BTC at an average price of US$70,681 (AU$109,191).
- The acquisition was funded via preferred stock, not common equity, for the fourth straight week.
Strategy (formerly known as MicroStrategy) has added 245 Bitcoin to its treasury, spending approximately US$26 million (AU$40.14 million) between 16 June and 22 June. This marks its second-smallest weekly purchase in more than six months. The Bitcoin was acquired at an average price of US$105,856 (AU$105,856) per coin, according to the company’s SEC filing.
The purchase was funded through capital raised from the sale of Strategy’s preferred stock offerings, STRK and STRF. This marks the fourth consecutive week that the company has added to its Bitcoin holdings without selling common stock.
Related: Japanese Firms Double Down on Bitcoin: ANAP and Remixpoint Boost Holdings Beyond ¥17 Billion
Saylor Projects Bold Future for Bitcoin
With this latest acquisition, Strategy’s total Bitcoin holdings now stand at 592,345 BTC, bought at an average price of US$70,681 (AU$109,191) per token. The firm’s total Bitcoin holdings are now worth nearly US$60 billion (AU$92.5 billion), making it the largest publicly listed company holding Bitcoin.
Despite the steady accumulation, Strategy’s shares (MSTR) dipped by approximately 2.1% in pre-market trading, a movement in line with broader declines in crypto-related stocks following geopolitical tensions over the weekend.
The company’s stock, however, has shown significant long-term growth, surging over 3,000% since Strategy began accumulating Bitcoin in mid-2020, compared with Bitcoin’s approximate 1,000% gain in the same period.
Michael Saylor, executive chairman and co-founder of Strategy, shared the acquisition on X (formerly Twitter), noting the year’s performance and reaffirming Strategy’s holdings.
The update came shortly after his BTC Prague appearance, where he doubled down on the company’s accumulation strategy and projected that recent political developments could propel Bitcoin to as high as $US21 million (AU$32 million) per coin by 2046.
Related: Crypto Crash: BTC Briefly Drops Below $100k, Popular Analyst Says Dip Won’t Last
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