Strategy resumes Bitcoin buying after last week’s controversial sale. The company purchased 1,550 BTC for approximately $101.3 million last week.
Consequently, its total holdings have now reached 845,256 BTC.
How Strategy resumes Bitcoin buying after the dip
According to a Monday 8‑K filing with the SEC, Strategy paid an average price of $65,332 per Bitcoin for this latest purchase. As a result, its aggregate Bitcoin holdings now have an average cost of $75,680 per BTC. The total acquisition cost is about $63.97 billion.
The company funded this acquisition using proceeds from sales of Class A common stock through its at‑the‑market offering program. Specifically, Strategy generated $181 million in net proceeds from those stock sales during the first week of June.
At Bitcoin’s current price of about $63,159, Strategy’s holdings are worth roughly $53.8 billion. Nevertheless, the company’s shares rose 5.61% in pre‑market trading to $127.20 following the disclosure, according to Yahoo Finance data.
STRC dividend changes and shareholder approval
Separately, Strategy announced on Monday that shareholders approved a change in the dividend payment cadence for its STRC preferred stock. Specifically, dividends will now be paid semi‑monthly, on the 15th and at month‑end. The new schedule will begin on July 15 for shareholders of record on June 30.
Why Strategy resumes Bitcoin buying now
The latest purchase follows a Sunday X post by Executive Chairman Michael Saylor, who said that it was “a good time to add more dots.” This purchase marks a resumption of the company’s BTC accumulation strategy after its controversial sale of 32 BTC last Monday, which was its first sale since 2022.
Notably, Bitcoin price fell 21% following that sale, briefly retesting $61,000 for the first time in four months. This sparked heavy criticism from traders who warned of a potential “doom loop” if the firm were ever forced to sell reserves.
However, CryptoQuant CEO Ki Young Ju pushed back on criticism of Saylor after CNBC host Jim Cramer accused him of “murdering Bitcoin.” Ju argued that Bitcoin would have fallen to $22,000 if it weren’t for Strategy’s purchases.
Furthermore, analysts from Bernstein said in a Monday report that Strategy has continued to grow its Bitcoin stack through a roughly 50% price drawdown. They highlighted its resilient, overcollateralized, and liquid balance sheet. Therefore, they reiterated an “Outperform” rating and a $450 price target on the stock.