Strategy Inc., the company formerly known as MicroStrategy, just topped $1 billion in cash reserves while simultaneously buying more Bitcoin.
Between June 1 and June 7, the firm acquired 1,550 BTC for $101.3 million, translating to an average price of roughly $65,332 per coin. That brings its total stash to a staggering 845,256 BTC, purchased at a cumulative cost basis of $63.97 billion, or about $75,680 per Bitcoin on average.
The numbers behind the rebound
In May, Strategy dipped into its cash reserves to repurchase $1.5 billion in convertible notes, a move that drained its USD holdings down to $871 million. The company then raised $181 million through common stock sales under its at-the-market equity program, pushing cash reserves back up by $100 million to the $1 billion mark as of June 7.
Strategy sold 32 BTC earlier in the period, its first Bitcoin sale since 2022. The sale was small, barely a rounding error against 845,000 coins, but it broke a years-long streak of pure accumulation. The company appears to have used proceeds to provide liquidity for preferred stock dividends, before resuming its buying.
