Strategy Buys 1,550 BTC for $101M One Week After Selling 32, Cash Reserve Hits $1B

Strategy purchased 1,550 bitcoin between June 1 and June 7 for $101.3 million, reversing the narrative from its prior week when it sold 32 BTC for the first time since 2022. The company disclosed the purchase in an 8-K filed with the SEC on Monday, June 8.

The 1,550 coins were acquired at an average price of $65,332 each. Strategy's total bitcoin holdings now stand at 845,256 BTC, bought at an average of $75,680 per coin. The company's U.S. dollar reserve, a designated liquidity buffer established in December 2025 to fund preferred-stock dividends and debt interest, reached $1 billion as of June 7, according to the filing.

The purchase closes a week-long narrative detour. On June 1, The Defiant reported that Strategy had sold 32 BTC for roughly $2.5 million, its first bitcoin-native disposal since a December 2022 tax-loss harvest, to cover obligations on its STRC preferred-stock instrument, which carries an 11.5% annual dividend. That sale drew public pushback from portions of the Bitcoin community who viewed it as a departure from Strategy's longstanding hold posture.

The ATM Connection

The 1,550-coin purchase was funded through Strategy's at-the-money share-sale program, per the 8-K. Strategy has been an active ATM seller: as of June 5, 2026, the company had raised $181 million from Class A common stock sales under the program during the same filing period, according to the document. A separate $21 billion MSTR Stock ATM offering, announced in March 2026, has not yet been drawn down, pending depletion of the existing facility.

The cash-reserve milestone adds a structural dimension to the buy. Strategy has framed its USD Reserve as a mechanism for insulating its BTC holdings from dividend pressure. The reserve stood near zero for most of the company's bitcoin accumulation phase. Reaching $1 billion means management has, in principle, set aside enough cash to service near-term preferred-stock obligations without touching BTC.

That framing does not eliminate the risk of future sales if the reserve is drawn down, but it does change the near-term calculus that spooked observers when the 32-BTC sale was announced.

The Sell-Then-Buy Sequence

The pricing sequence is notable. The 32-coin sale on May 26–31 executed at $77,135 per coin. The 1,550-coin purchase a week later came in at $65,332 — roughly $12,000 lower per coin. At face value, Strategy sold high and bought lower in the same two-week window.

Michael Saylor addressed the criticism of the June 1 sale in a June 5 post on X, framing Strategy's approach as one of accumulation amid ideological noise. He did not confirm the new purchase publicly prior to the filing.

Strategy's Position in Context

Strategy remains the largest publicly traded bitcoin holder by a significant margin. Among 175 companies tracked by CoinGecko's public-treasury data, Strategy's 845,256 BTC, valued at approximately $53.95 billion at Monday's price of $63,821, accounts for roughly 66% of all bitcoin held on public-company balance sheets.

The second-largest holder, XXI, holds 43,514 BTC. Metaplanet, the Tokyo-listed company that has modeled its bitcoin strategy on Strategy's approach, holds 40,177 BTC, per CoinGecko.

Bitcoin traded at $63,821 at the time of publication, up 2.9% over the trailing 24 hours, per CoinGecko. That places Strategy's average cost basis of $75,680 approximately 16% above the current market price, meaning the position carries an unrealized loss on the aggregate entry.