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Strategy Acquires 520 Bitcoin, Total Holdings Reach 847,363 BTC

Highlights:

  • Strategy bought an additional 520 BTC for $34.9 million, lifting its total holdings to 847,363 BTC.
  • The company funded the purchase through ATM share sales, which raised $335.5 million in proceeds.
  • Strategy’s average Bitcoin cost basis is now $75,651, while total purchase costs reached $64.10 billion.

Strategy Inc. has added more Bitcoin to its balance sheet, buying 520 BTC between June 15 and June 21. The company disclosed the purchase in a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on June 22. The latest purchase followed a Sunday post from Strategy Executive Chairman Michael Saylor, who shared the company’s Bitcoin holdings tracker with the caption, “Looks better with more dots.”

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According to the filing, Strategy bought the 520 BTC for about $34.9 million, including fees and expenses. The average purchase price was $67,068 per Bitcoin. 

Strategy Uses Share Sales to Support Bitcoin Buying

Strategy said the Bitcoin purchase was funded through proceeds from its at-the-market (ATM) offering program. An ATM offering allows a public company to sell shares into the market from time to time. Companies often use this method to raise capital gradually instead of selling a large amount of stock at once. In Strategy’s case, the company has continued to use share-sale proceeds to support its Bitcoin accumulation plan.

During the same reporting period, Strategy sold 2,714,839 shares of its Class A common stock under the ATM program. The company reported $335.5 million in net proceeds from those share sales. The filing also showed that Strategy still had $25.41 billion available for future issuance and sale of its Class A common stock under its current and increased offering capacity.

The company did not report any sales of its preferred stock during the period. The filing listed no shares sold for its STRF, STRC, STRK, or STRD preferred stock categories between June 15 and June 21.

Total Bitcoin Cost Basis Reaches $64.10 Billion

After the latest purchase, the company’s total Bitcoin holdings reached 847,363 BTC as of June 21, and the cost now stands at about $64.10 billion, including fees and expenses. The company’s average purchase price across all its Bitcoin holdings is $75,651 per BTC.

Strategy also gave an update on its U.S. dollar reserve. The company said the reserve balance stood at $1.4 billion as of June 21. The reserve is designed to support dividend payments on Strategy’s preferred stock and interest payments on its outstanding debt. The company said it plans to replenish the reserve over time based on market conditions.

This filing also explained that Strategy has a public dashboard on its website. The company uses the dashboard to publish details on its securities, Bitcoin purchases, holdings, and other key metrics. The new acquisition is the latest example of Strategy’s efforts to further build its Bitcoin holdings and leverage its ATM program to fund new purchases. The new purchase is a smaller one than some of the previous Bitcoin purchases, but it does add to the company’s already significant exposure to Bitcoin.

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