Strategy's Bitcoin Growth
Strategy Acquires 1,550 More Bitcoin for $101M, Total Holdings Now Exceed 845K BTC
Anonymous
Key Points
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Ahead of the disclosure, Strategy’s executive chairman Michael Saylor posted on X that it was “a good time to add more dots,” and another report noted he tweeted “Time to add in more dots,” a pattern observers said could signal a new buying announcement.
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Strategy’s 845,256 BTC stake is large enough to represent “over 4% of the 21 million maximum Bitcoin supply,” and one article put its unrealized loss at around $10.5 billion given Bitcoin’s price being below its average acquisition level.
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The SEC/ATM financing details include that Strategy sold 1,409,600 shares of Class A common stock (MSTR) last week, raising about $181 million, and the proceeds from its earlier 32 BTC sale were earmarked to fund a dividend payment on its STRC preferred stock.
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Beyond the immediate $101 million buy, Strategy’s broader funding plan includes significant remaining issuance capacity and targets: one report said there are “more than $26 billion worth of MSTR shares eligible for issuance” under the ATM program, alongside plans to raise up to $21 billion via MSTR stock issue plus $21 billion in STRC preferred stock and $2.1 billion in STRK preferred stock.
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On Capitol Hill, one article reported that “more than 200 companies” signed a letter urging Senate leadership to schedule a vote on the Digital Asset Market CLARITY Act, noting the bill had advanced out of the Senate Banking Committee and was placed on the Senate Legislative Calendar with lawmakers aiming for action before the July recess.
Strategy bought 1,550 Bitcoin for $101.3 million between June 1 and June 7, bringing its total stash to 845,256 BTC — more than 4% of Bitcoin's maximum supply of 21 million coins, according to TronWeekly. The company paid an average of $65,332 per coin, below its overall average cost of $75,680, slightly lowering its cost basis for the first time in recent memory.
The purchase was funded through at-the-market stock sales — offloading 1,409,600 Class A shares to raise about $181 million, Crypto Economy reported. Strategy also boosted its U.S. cash reserves to $1 billion. Shares rose in premarket trading after the SEC filing hit.
Saylor's Cryptic Tweet Preceded the $101M Buy
The night before the disclosure, Executive Chairman Michael Saylor posted on X: "A good time to add more dots." Observers who follow his posts say the phrase is a reliable signal that a buying announcement is coming, according to BeInCrypto. The tweet helped settle nerves after a turbulent week.
Strategy's first Bitcoin sale in years — just 32 BTC for $2.5 million in late May — had spooked markets. The coins were sold to pay dividends on its STRC preferred stock. Though the sale was only 0.0038% of holdings, it broke what many called a "never sell" promise, according to MEXC.
A $10.5 Billion Paper Loss Hangs Over the Firm
Strategy has spent roughly $64 billion to build its Bitcoin stack, Crypto Economy reported. With an average cost of $75,680 per coin and Bitcoin trading near $63,000, the firm sits on an unrealized paper loss of about $10.5 billion. The latest buy at $65,332 per coin helps chip away at that gap, but only slightly.
CEO Phong Le also sold 93,738 MSTR shares for $11.1 million on June 5, raising eyebrows. On June 8, he said the shift to semi-monthly dividend payments on STRC preferred stock was designed to "stabilize price, dampen cyclicality, and drive liquidity," according to the firm's public statements cited by TronWeekly.
The "Doom Loop" Fear and Why Bulls Push Back
Critics — including economist Peter Schiff — warn of a "doom loop." The theory: if Bitcoin keeps falling below Strategy's cost basis, the firm must sell more BTC to pay its preferred stock dividends, which pushes Bitcoin's price down further, which forces more selling. MEXC noted Strategy's cash reserves had dipped to $871 million before the recent $1 billion boost.
Bulls counter that Strategy's constant buying through share sales creates a "perpetual bid" that cushions Bitcoin's price during downturns. JPMorgan analysts called the May sale "symbolic and voluntary" — a show of flexibility for preferred stockholders, not a sign of distress. Strategy still has $25.9 billion in remaining stock issuance capacity to fund future buys, according to Crypto Economy.
200+ Companies Push Senate for Crypto Law Vote
The same day Strategy disclosed its buy, a coalition of more than 200 companies sent a letter to Senate leaders urging a vote on the Digital Asset Market CLARITY Act before the July recess. The bill cleared the Senate Banking Committee 15-9 and was placed on the Senate Legislative Calendar. It would set the first clear rules dividing oversight between the SEC and the CFTC.
Senator Cynthia Lummis said after the committee vote: "The floor is next... We did not come this far to quit at the 5-yard line." But Galaxy Digital's head of research Alex Thorn lowered his odds of the bill passing in 2026 from 75% to 60%, citing a shrinking legislative calendar and unresolved ethics provisions, according to TronWeekly.
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