Strategy, the publicly traded bitcoin treasury company, bought 520 BTC for about $34.9 million between June 15 and June 21, according to a filing with the U.S. Securities and Exchange Commission. The purchase price averaged $67,068 per bitcoin, lifting the firm’s total holdings to 847,363 BTC, valued near $54.8 billion at current market prices.
The company’s average acquisition cost stands at $75,651 per token, bringing total spending to roughly $64.1 billion including fees. Based on current prices, that implies an unrealized loss of about $9.3 billion.
Stock sales continue to fund purchases
The latest acquisition was financed through Strategy’s at-the-market sale of Class A common stock. During the same week, the company sold 2,714,839 shares, raising $335.5 million. It still has $25.4 billion available under its existing issuance program.
Earlier this year, the firm expanded its capital-raising plan to include up to $21 billion in additional Class A shares, $21 billion in STRC preferred stock, and $2.1 billion in STRK preferred stock. These instruments remain central to funding ongoing bitcoin accumulation.
Co-founder and Executive Chairman Michael Saylor confirmed the purchase on social media, continuing the company’s pattern of weekly updates on its bitcoin buys.
Preferred stock pressure complicates funding
The STRC preferred stock, which offers a variable monthly dividend with an annualized rate of 11.5%, has not recently been used to fund bitcoin purchases. The security has declined below its $100 par value, closing at $88.59 last week after falling as low as $82.53.
Meanwhile, the company’s U.S. dollar reserves rose to $1.4 billion as of June 21, up from $1.1 billion a week earlier, including unsettled proceeds from recent share sales.
Corporate bitcoin holdings expand across market
Data tracking corporate bitcoin treasuries shows 199 public companies now hold bitcoin. Other major holders include Twenty One with 43,514 BTC, Metaplanet with 40,177 BTC, MARA with 36,303 BTC, and SpaceX with 18,712 BTC.
Market conditions remain weak
Strategy’s continued accumulation comes during a period of price pressure for bitcoin, which has struggled to hold above $60,000 after a sharp drop earlier in the month. Broader market sentiment has been weak, with the Crypto Fear & Greed Index falling to 8 in June, signaling deep fear among traders.
This approach contrasts with flows into U.S. spot bitcoin ETFs, which recorded $2.43 billion in net outflows in May, the largest monthly withdrawal of 2026.
Shares lag alongside bitcoin weakness
Strategy’s stock remains under pressure, down about 75% from its 2025 peak. Shares fell 5.8% last week to $112.53 and are down 27.2% year to date. Bitcoin itself has dropped around 4% over the same period.
The stock is trading well below its 50-day and 200-day moving averages of $155.02 and $195.15, reflecting cautious sentiment toward equities tied closely to bitcoin exposure.
Outlook tied to ETF flows and price recovery
Market watchers are focused on whether demand from ETFs will return to help offset selling pressure. A move above the $68,000 level is seen as a key signal that bearish sentiment may be easing.
At the same time, the ability of corporate treasuries to sustain or expand bitcoin accumulation in current conditions remains a key gauge of market conviction.
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