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Strategy Buys 1,550 Bitcoin for $101 Million as BTC Jumps 3.5%
Strategy acquired 1,550 Bitcoin worth $101 million during recent market weakness.
Meanwhile, company increased cash reserves by $100 million, reaching $1 billion total.
Bitcoin jumped 3.5% after announcement, recovering from recent $60,000 decline.
Strategy, led by well-known Bitcoin supporter Michael Saylor, has purchased another 1,550 Bitcoin for approximately $101 million. The latest acquisition was made between June 1 and June 7 at an average price of $65,332 per BTC
Following the announcement, Bitcoin climbed 3.5%, helping improve market sentiment after BTC briefly fell below $59,500.
Strategy Adds More Bitcoin to Its Growing Reserve
The latest purchase comes less than two weeks after Strategy disclosed the sale of 32 Bitcoin, its first BTC sale since 2022.
With this purchase, Strategy’s total Bitcoin holdings have increased to 845,256 BTC, making it one of the largest corporate holders of Bitcoin in the world. The company said the latest buy is part of its long-term strategy of using Bitcoin as its primary treasury reserve asset.
The purchase also marks Strategy’s first Bitcoin acquisition since its recent Bitcoin-related sale, signaling that the company remains committed to accumulating the digital asset despite ongoing market volatility.
Company Boosts Cash Reserves Alongside Bitcoin Holdings
The announcement was accompanied by a statement from Saylor, who revealed that the company had also increased its cash reserves.
Strategy also increased its U.S. dollar reserves by $100 million, bringing its total cash holdings to $1 billion. To fund both initiatives, the company issued approximately $181 million worth of common stock during the period.
While supporters view the move as another strong vote of confidence in Bitcoin, some critics continue to point to shareholder dilution caused by repeated stock sales.
Following the latest purchase, Strategy has spent just under $64 billion acquiring its Bitcoin holdings. However, with Bitcoin currently trading below the company’s average purchase price of $75,680, its holdings are showing an unrealized loss of roughly $10.4 billion.
Bitcoin Price Reacts Positively
Despite concerns about broader market conditions, investors reacted positively to the announcement. Shortly after the news, Bitcoin jumped around 3.5% and traded above $63,800.
The recovery comes after Bitcoin recently dropped below $59,500 amid market uncertainty.
Many traders see Strategy’s continued accumulation as a sign of long-term confidence in Bitcoin’s future.
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