Strategy makes modest Bitcoin purchase amid ongoing accumulation

• Strategy bought 245 Bitcoin for $26 million between June 16–22, one of its smallest weekly purchases since ramping up buying.
• The company has now gone four weeks funding Bitcoin purchases without selling common stock, using preferred shares instead.
• Strategy’s stock has soared over 3,000% since 2020, significantly outperforming Bitcoin’s 1,000% rise in the same period.

Strategy, the digital-asset treasury firm formerly known as MicroStrategy Inc., purchased $26 million worth of Bitcoin over the past seven days.

This marks the second-smallest weekly acquisition by the company since it ramped up cryptocurrency buying more than six months ago under the leadership of Executive Chairman Michael Saylor.

Latest acquisition

Between June 16 and June 22, Strategy acquired 245 Bitcoins at an average price of $105,856 each, according to a filing with the U.S. Securities and Exchange Commission on Monday.

While the firm has occasionally skipped weekly purchases, this week’s buy was the lowest since it acquired 130 Bitcoins during the week ending March 17.

Strategy, based in Tysons Corner, Virginia, now holds Bitcoin valued at approximately $60 billion.

Strategy’s executive Chairman, Michael Saylor, in a tweet, confirmed the purchase.

According to Saylor, the company now holds 592,345 bitcoins, acquired for $41.87 billion at $70,681 per bitcoin. 

The company has 19.2% year to date in BTC holdings, Saylor added.

Consistent buying, no equity Sales

For the fourth consecutive week, Strategy funded its Bitcoin purchases without selling any common stock.

Critics of the company’s approach, including short-seller Jim Chanos, have expressed concern over the high premium at which Strategy’s shares trade relative to the value of its Bitcoin holdings.

The company used net proceeds from the sale of its Strike preferred stock (STRK) and Strife preferred stock (STRF) to finance the latest Bitcoin acquisition. Saylor, a co-founder of Strategy, continues to lead the company’s aggressive cryptocurrency investment strategy.

Since the company first began acquiring Bitcoin in mid-2020, its shares have surged over 3,000%, far outpacing Bitcoin’s own rise of about 1,000% during the same timeframe.

Strategy had added aggressive positions in BTC in the previous weeks.

On June 16, the company bought 10,100 BTC at an average price of $104,080.

The company added positions when the market dipped due to the Israel-Iran conflict.

Since initiating its Bitcoin purchasing program in mid-2020, Strategy’s shares have soared over 3,000%.

By comparison, Bitcoin has gained around 1,000% in the same period. On Monday, Strategy’s stock fell 2.48% to $360.52.

From software to digital assets

MicroStrategy, historically known as an enterprise software company, shifted its corporate focus toward Bitcoin under Saylor’s leadership in 2020.

The firm now functions more like a Bitcoin treasury vehicle, drawing attention from both crypto advocates and traditional financial analysts.

While the strategy has delivered substantial returns, it remains controversial due to the volatility of cryptocurrency markets and the company’s aggressive capital deployment into digital assets.