Strategy Buys 520 BTC for $34.9M, Builds $1.4B Reserve as STRC Worries Grow
MSTR•Strategy Inc bought only 520 BTC for $34.9M in the week ended June 21—two-thirds fewer than the prior week—after raising $335.5M via its ATM stock offering but allocating under 11% to Bitcoin. Its USD Reserve hit $1.4B, yet STRC preferred shares trading below $100 threaten its financing engine.
1. Weekly Bitcoin Purchases Decline
Strategy Inc purchased 520 BTC for $34.9M in the week ended June 21, a 67% drop from 1,587 coins bought the prior week. The average acquisition price rose to $67,068 from $63,024, bringing its total holdings to 847,363 BTC at a cost basis of $75,651.
2. ATM Offering Raises $335.5M
Through its at-the-market offering program, the company sold 2,714,839 Class A common shares, generating net proceeds of $335.5M. Less than 11% of these funds were allocated to Bitcoin purchases, with the remainder bolstering its cash reserves for debt and dividend obligations.
3. USD Reserve Reaches $1.4B
As of June 21, Strategy’s USD Reserve stands at $1.4B, established to cover preferred stock dividend payments and debt interest. This liquidity cushion became a priority following an earlier sale of 32 BTC to fund STRC dividends, the first net Bitcoin sale since 2022.
4. STRC Financing Under Strain
Preferred Series A perpetual stretch shares trade below their $100 par value, raising concerns over the sustainability of Strategy’s low-cost financing mechanism. Continued under-par trading could impair the company’s ability to issue new STRC shares to acquire Bitcoin on price pullbacks.
