- Strategy purchased 245 Bitcoin for $26 million between June 16 and June 22, one of its smallest weekly buys since it began its large-scale accumulation program.
- The company has now funded Bitcoin purchases for four consecutive weeks without selling common stock, instead using preferred shares to raise capital.
- Strategy’s shares have risen more than 3,000% since 2020, significantly outperforming Bitcoin’s roughly 1,000% gain over the same period.
Strategy, the digital finance company formerly known as MicroStrategy Inc., bought $26 million worth of Bitcoin over the past seven days.
This marks the second-smallest weekly purchase since the company accelerated its cryptocurrency acquisitions more than six months ago under the leadership of Executive Chairman Michael Saylor.
Latest Purchase
Between June 16 and June 22, Strategy acquired 245 Bitcoin at an average price of $105,856 each, according to a filing with the U.S. Securities and Exchange Commission on Monday.
While the company has occasionally skipped some weekly purchases, this week’s buy was the smallest since it acquired 130 Bitcoin in the week ending March 17.
Headquartered in Tysons Corner, Virginia, Strategy now holds Bitcoin with an estimated value of about $60 billion.
Strategy’s Executive Chairman, Michael Saylor, confirmed the purchase in a tweet.
According to Saylor, the company now owns 592,345 bitcoins, acquired for $41.87 billion at an average of $70,681 per bitcoin.
Saylor added that the company’s Bitcoin holdings are up 19.2% year-to-date.
Consistent Buying, No Common Stock Sales
For the fourth consecutive week, Strategy financed its Bitcoin purchases without selling any common shares.
Critics of the company’s approach, including short-seller Jim Chanos, have raised concerns about the premium at which Strategy’s stock trades relative to the value of its Bitcoin holdings.
The company used the net proceeds from the sale of its Strike preferred stock (STRK) and Strife preferred stock (STRF) to fund the latest Bitcoin purchase. Saylor, a co-founder of Strategy, continues to steer the company’s aggressive cryptocurrency investment strategy.
Since Strategy first started buying Bitcoin in mid-2020, its shares have climbed more than 3,000%, far outpacing Bitcoin’s roughly 1,000% gain over the same timeframe.
Strategy added sizable Bitcoin positions in recent weeks.
On June 16 the company purchased 10,100 BTC at an average price of $104,080.
These additions came as the market dipped amid the Israel-Iran tensions.
Since launching its Bitcoin accumulation program in mid-2020, Strategy’s stock has risen more than 3,000% compared with Bitcoin’s roughly 1,000% increase. On Monday, Strategy’s stock fell 2.48% to $360.52.
From Software to Digital Assets
Historically recognized as an enterprise software company, MicroStrategy shifted its corporate focus toward Bitcoin under Saylor’s leadership in 2020 and rebranded to Strategy as it embraced a digital-asset-first identity.
The company now functions largely as a corporate treasury holding substantial Bitcoin reserves, drawing attention from both crypto advocates and traditional financial analysts.
Although the strategy has delivered significant returns, it remains controversial due to the volatility of cryptocurrency markets and the company’s aggressive deployment of capital into digital assets.