CoinDesk
Strategy (MSTR) acquired 1,550 bitcoin for approximately $101 million, bringing its total holdings to 845,256 BTC — the company's first purchase since Executive Chairman Michael Saylor sold 32 BTC on June 1. The buy was made at an average price of $65,332 per bitcoin, meaningfully below Strategy's overall average acquisition cost of $75,680.
Why it matters
The timing is deliberate. Bitcoin fell roughly 15% last week, briefly dipping below $60,000 before recovering above $62,000, and Strategy stepped in at the dip rather than waiting for confirmation of a trend reversal. Alongside the BTC purchase, the company raised $181 million through common stock sales, using proceeds to fund the acquisition and push its U.S. dollar cash reserves to $1 billion — a balance sheet posture that signals both conviction and optionality. The purchase also coincides with Bitcoin's MVRV Z-Score approaching the historical bear-market bottom near zero, a level that preceded major recoveries in 2014, 2018, and 2022.
Market impact
With 845,256 BTC now on its books at a total cost of just under $64 billion, Strategy remains the largest publicly traded corporate holder of bitcoin by a wide margin. Buying below its own cost basis at $65,332 versus $75,680 average is a rare opportunity the company moved quickly to capture. The $1 billion cash reserve signals further purchases remain on the table if bitcoin tests lower levels again.
Frequently asked questions
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Why did Strategy buy BTC below its own average cost basis this time?
Bitcoin fell roughly 15% last week, briefly trading below $60,000, giving Strategy the opportunity to acquire 1,550 BTC at $65,332 per coin — below its overall average acquisition price of $75,680 — effectively averaging down into the dip.
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How did Strategy fund the $101M bitcoin purchase without depleting cash?
The company issued $181 million in common stock during the period, using the proceeds to both fund the BTC acquisition and increase its U.S. dollar cash reserves by $100 million, bringing total cash on hand to $1 billion.
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What does the MVRV Z-Score signal suggest about bitcoin's current position?
Bitcoin's MVRV Z-Score is nearing the historical bear-market bottom around zero, a level that preceded major price recoveries in 2014, 2018, and 2022, indicating the market price is approaching its realized fair value after the recent sell-off.
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