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Strategy disclosed in an 8-K filing that it sold 2.71 million MSTR shares between June 15 and June 21, generating $335.5 million in net proceeds through its ATM program. The company used part of the proceeds to acquire 520 BTC for $34.9 million at an average purchase price of $67,068.
As of June 21, Strategy held 847,363 BTC acquired for $64.1 billion at an average cost of $75,651 per bitcoin, and its USD Reserve increased to $1.4 billion.
Why it matters
The tranche's average buy price of $67,068 sits roughly 11% below Strategy's blended cost basis of $75,651, meaning the company is still adding to its position at a discount to its own average. That dynamic is the core of the equity-to-BTC flywheel: as long as mNAV holds, every ATM share printed converts into a coin bought below corporate average cost.
Market impact
The 520 BTC add is modest against the 847,363-coin total, but the read for the market is the continued willingness of the ATM to absorb supply at scale ($335.5M in a single week) without compressing the share price. Strategy's USD Reserve also grew to $1.4 billion, leaving dry powder for additional tranches if the discount-to-basis setup persists.
Frequently asked questions
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How much Bitcoin did Strategy buy in this tranche?
Strategy acquired 520 BTC for $34.9 million at an average purchase price of $67,068, according to an 8-K filing covering June 15 to June 21.
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How did Strategy fund the Bitcoin purchase?
The company sold 2.71 million MSTR shares through its ATM program, generating $335.5 million in net proceeds, and used part of that capital for the BTC add.
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How much Bitcoin does Strategy hold in total?
As of June 21, Strategy held 847,363 BTC acquired for $64.1 billion at an average cost of $75,651 per coin.
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What is Strategy's USD Reserve right now?
Strategy's USD Reserve increased to $1.4 billion, leaving additional dry powder for future Bitcoin purchases if market conditions stay favorable.
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Why does the $67,068 buy price matter?
It is roughly 11% below Strategy's blended average cost of $75,651, meaning the company is still adding to its position at a discount to its own cost basis, a core dynamic of the equity-to-BTC flywheel.
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