Imagine sitting across from me, a steaming mug in hand. We are talking about Strategy, the company that has made Bitcoin its central mission. They just added another significant chunk to their digital vault.
- Strategy recently acquired 10,100 Bitcoin for approximately $1.05 billion, increasing its total holdings to over $63 billion. This purchase was made between June 9 and June 15.
- The company is funding these acquisitions through various means, including the sale of preferred stock, with a new offering of STRD preferred stock raising $1 billion. These funding programs are part of a larger plan to buy Bitcoin through 2027.
- The corporate strategy of holding Bitcoin as a treasury asset is spreading, with 228 firms now adopting this approach, and analysts are debating the potential impacts on Bitcoin’s role.
Between June 9 and June 15, Strategy acquired 10,100 Bitcoin. This purchase cost them about $1.05 billion. The average price per Bitcoin was $104,080, according to a recent filing with the Securities and Exchange Commission.
This latest acquisition pushes Strategy’s total Bitcoin holdings to 592,100. That is a lot of Bitcoin. It is worth over $63 billion today.
Michael Saylor, the company’s co-founder and executive chairman, shared these figures. He noted the total cost for all their Bitcoin, including fees, is around $41.8 billion. Their average purchase price stands at $70,666 per Bitcoin.
This massive holding represents about 2.8% of Bitcoin’s total supply of 21 million coins. It also suggests a paper gain of roughly $21 billion. That is quite a return on their investment so far.
How did they pay for this latest haul? Part of it came from selling preferred stock. They used proceeds from at-the-market sales of their perpetual Strike preferred stock, known as STRK.
Last week, Strategy sold 452,487 STRK shares. This brought in about $45.2 million. They still have $20.57 billion worth of STRK shares available to sell under that program.
They also sold 286,101 shares of their perpetual Strife preferred stock, STRF. This added $28.6 million to their coffers. About $1.98 billion in STRF shares remains available.
Their Class A common stock, MSTR, was not sold last week. A substantial $18.63 billion remains under that particular at-the-market program.
The main funding for these recent buys came from a new offering. Strategy upsized its initial public offering for its new perpetual Stride preferred stock, STRD. This raised $1 billion.
STRD offers a fixed 10% non-cumulative annual dividend. It is also non-convertible. This differs from STRK, which is convertible and offers an 8% annual dividend. STRF is non-convertible like STRD, but it offers a 10% fixed cumulative annual dividend.
These funding programs are part of a much larger plan. Strategy has a “42/42” plan. This aims to raise $84 billion through equity offerings and convertible notes. The goal is to buy Bitcoin through 2027.
This plan was originally a “21/21” plan for $42 billion. It was upsized after the equity side was used up. It shows a clear, long-term commitment to Bitcoin accumulation.
Saylor often hints at upcoming Bitcoin buys. He recently shared an update on Strategy’s Bitcoin purchase tracker. His message was simple: “Bigger Dots are ₿etter.”
Bigger Dots are ₿etter. pic.twitter.com/2b4xK446aR
— Michael Saylor (@saylor) June 16, 2025
Before this latest acquisition, Strategy bought 1,045 Bitcoin. That was between June 2 and June 8. It cost about $110.2 million, at an average price of $105,426 per Bitcoin.
The pace of their Bitcoin buys had slowed recently. They shifted focus from common stock sales to preferred stock for funding. But this latest set of acquisitions marks a significant increase in pace once again.
The Growing Corporate Bitcoin Trend
Strategy is not alone in its Bitcoin strategy. The idea of holding Bitcoin as a corporate treasury asset has spread. There are now 228 firms that have adopted some form of Bitcoin treasury.
New players are joining the ranks. Tether-backed Twenty One, Nakamoto, President Trump Media, and GameStop have recently started buying Bitcoin. They follow companies like Semler Scientific and KULR.
Japanese investment firm Metaplanet also announced a significant purchase. They bought an additional 1,112 Bitcoin. This brings their total holdings to 10,000 Bitcoin. They have now surpassed Coinbase Global in their Bitcoin stash.
Strategy’s market capitalization sits at $104.7 billion. This trades at a notable premium compared to its Bitcoin net asset value (NAV). Some investors continue to express reservations about this premium. They also question the firm’s many Bitcoin acquisition programs.
Last week, analysts at Sygnum, a regulated digital asset bank, raised a point. They argued that the increasing holdings by Strategy and other corporate Bitcoin accumulators could make Bitcoin “inappropriate” for central bank reserves. This, they suggest, might undermine its safe-haven properties.
David Duong, Global Head of Research at Coinbase Institutional, also shared a warning. He suggested that leveraged corporate crypto buying could eventually pose “systemic risks.” However, he added that the pressure appears limited in the short term.
Saylor, for his part, remains confident. He believes in Strategy’s ability to withstand market shocks. In a recent interview, he explained their capital structure. It is designed to handle a 90% drop in Bitcoin that lasts for four to five years.
This resilience comes from their mix of equity, convertible debt, and preferred instruments. He did acknowledge that shareholders would “suffer” in such a scenario. But the structure is built to endure.
Analysts at Bernstein support this view. They argue that Strategy’s debt levels are relatively low. There are no payments due until 2028. This means the firm’s leverage remains manageable.
MSTR, Strategy’s stock, closed up 0.8% on Friday at $382.87. Bitcoin itself traded relatively flat last week. This was despite some volatility around growing Israel-Iran geopolitical tensions.
MSTR was up 1.6% in pre-market trading on Monday. It has seen a 27.6% increase year-to-date. The company continues its unique path in the financial world, tying its fortunes directly to Bitcoin.