MicroStrategy Buys 1,550 BTC, Holdings Reach 845,256 BTC

MicroStrategy bought 1,550 bitcoin for about $101.3 million at an average price of $65,332 per coin between June 1 and June 7, the company reported. The purchases followed a May 26–31 sale of 32 bitcoin and were funded by at‑the‑market sales of its Class A common stock, MSTR.

An 8‑K filing showed the purchases increase MicroStrategy's holdings to 845,256 bitcoin. At current market prices those holdings are worth roughly $53.5 billion. Co‑founder and executive chairman Michael Saylor reported the company's cumulative bitcoin cost averages $75,680 per coin, for a total cost of about $64 billion including fees and expenses.

The May sale of 32 bitcoin returned about $2.5 million at an average net price of $77,135, with proceeds designated for the dividend on the STRC preferred stock. The company also sold 1,409,600 MSTR shares last week for roughly $181 million, and reported $25.96 billion of MSTR shares remain available for issuance and sale under its ATM program.

MicroStrategy said it extended its ATM programs to add potential issuance capacity of up to $21 billion of MSTR, $21 billion of STRC preferred stock and $2.1 billion of STRK preferred stock. The company reported its U.S. dollar reserve rose to $1 billion as of June 7, up from $900 million disclosed on May 31.

The STRC preferred stock is a variable‑rate, cumulative instrument that pays monthly dividends and adjusts rates to remain near $100 par. MicroStrategy reported STRC currently carries an annualized rate of 11.5%, and noted the preferred issue has struggled to regain par since mid‑May and was not used to buy additional bitcoin during the prior three weeks.

Michael Saylor posted a bitcoin acquisition tracker chart on social media with the caption “A good time to add more dots,” alongside an essay on competing visions for bitcoin's long‑term path. MicroStrategy's annual meeting is scheduled to close voting on a proposal to change STRC dividend payments from monthly to twice monthly; retail holders own about 80% of outstanding STRC shares.

Market reaction to the company's disclosures was visible in bitcoin price moves. Bitcoin fell to about $59,300 after the early June disclosure, then recovered above $63,000 over the weekend. JPMorgan analysts wrote that the 32‑bitcoin sale had “spooked” markets and warned that, after a recent repurchase of $1.5 billion face value of convertible notes for about $1.38 billion, MicroStrategy's dollar reserves cover roughly 6.3 months of dividend payments.

Zach Pandl, head of research at Grayscale, observed MicroStrategy's ability to acquire more bitcoin is constrained at current STRC and MSTR prices and suggested other buyers may be needed to support a sustained price bottom. Bernstein analysts noted STRC's annual cash dividends are covered by cash reserves, equity ATM liquidity and the company's ability to sell bitcoin, and pointed to instances when MSTR raised over $1 billion in a week.

Data from bitcoin treasury trackers show 198 public companies have adopted some form of bitcoin acquisition strategy. MicroStrategy remains the largest corporate holder by a wide margin. The company's stock fell 19.7% last week, closing at $120.44, and was down about 22% year‑to‑date.