Strategy, the publicly listed company controlled by Michael Saylor, added more Bitcoin to its treasury last week, purchasing 1,587 BTC for $100 million while the token traded below the firm’s reported average cost basis.
According to Strategy’s filing with the US Securities and Exchange Commission, the acquisitions took place between June 8 and Sunday. The company reported an average purchase price of $63,024 per bitcoin, slightly lowering its overall average cost basis to about $75,656.
Key takeaways
- Strategy bought 1,587 BTC for $100 million between June 8 and Sunday, per an SEC 8-K filing.
- The purchases were executed at an average price of $63,024 per BTC, reducing Strategy’s average cost basis to roughly $75,656.
- Strategy now holds 846,842 BTC, with CoinGecko valuing the holdings at about $56.1 billion at roughly $66,216 per BTC.
- The latest buy was financed through sales of Strategy’s Class A common stock, while its preferred share programs showed no activity during the week.
- Ongoing discussion around Strategy’s willingness to sell Bitcoin remains tied to its need to fund dividend-style digital credit products.
Another tranche of Bitcoin purchases
Strategy’s newest move reinforces its continued accumulation strategy, even as market prices sit under its average entry cost. The company’s SEC 8-K states that it acquired 1,587 BTC for $100 million during the period spanning June 8 through Sunday.
At an average acquisition price of $63,024, the buy occurred at a level materially below Strategy’s average cost basis of approximately $75,700 referenced in the filing details. After this round, Strategy’s overall average cost basis fell slightly to $75,656.
Where the company’s Bitcoin stands today
With the latest acquisition, Strategy’s total Bitcoin holdings reach 846,842 BTC, accumulated at a combined cost of $64.07 billion. Based on CoinGecko market pricing of about $66,216 per BTC, the current value of those holdings is roughly $56.1 billion.
That gap between carrying cost and current market value matters for both equity investors and crypto-focused observers, because Strategy’s balance sheet is built around Bitcoin exposure. When BTC trades below the company’s average cost basis, each incremental purchase can help reduce that average—though it does not automatically offset the unrealized difference in value unless the market moves meaningfully higher.
Financing the buy through MSTR share sales
Strategy’s filing indicates that the purchase was funded similarly to its prior additions: by selling shares of its Class A common stock rather than relying on activity within certain preferred stock programs.
Specifically, the company said it raised about $209 million by selling 1.73 million shares during the period. It also noted that preferred share programs—including STRC, STRF, STRK, and STRD—showed no activity over the week covered by the filing.
This structure is a key element of Strategy’s approach. Rather than treating Bitcoin accumulation as an isolated treasury action, the company ties growth in BTC holdings to capital markets operations that can provide liquidity for continued buying.
Preferred stock below par and the broader sale debate
While Strategy did not report preferred program activity during the week, outside trackers have continued to highlight market pricing pressure around at least one preferred instrument. According to STRC.live, STRC remained below its $100 par value for a fourth consecutive week as of June 12, lingering in the mid-$96 range and marking the longest stretch below par since its launch.
On Friday, STRC closed at $94.80, down about 1%, according to TradingView data cited via STRC.live.
Separately, the context for why Strategy continues to sell assets to fund Bitcoin buying—and, at times, sell BTC itself—has remained a live issue in the crypto community. The company disclosed its first reported Bitcoin sale in years in connection with an earlier transaction referenced in Cointelegraph coverage: a sale of 32 BTC on June 1. Even though that amount was small relative to its overall holdings, it sparked debate about whether Strategy is shifting away from its historically strict “buy and hold” narrative.
Michael Saylor later defended the rationale, telling Cointelegraph that Bitcoin treasury companies need the ability to sell holdings to support dividend-paying securities tied to its digital credit business.
What to watch next
Investors will likely focus on whether Strategy continues to fund Bitcoin buys primarily through common stock issuance, how preferred programs trade relative to par, and—most importantly—whether future SEC disclosures show continued accumulation at prices that further narrow the company’s cost basis versus BTC’s prevailing market level.
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