Strategy Buys 1,550 Bitcoin for About $101.3 Million, Lifting Holdings to 845,256 BTC

Strategy bought 1,550 bitcoins for approximately $101.3 million last week, lifting its total holdings to 845,256 BTC, according to an announcement tied to a Monday 8-K filing.

The purchase came after a controversial disposal of 32 BTC, described as the company’s first sale since 2022, which drew sharp criticism from traders.

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In that same disclosure, Strategy said it paid an average of $65,332 per coin for the latest tranche, while its aggregate holding has been built at an average cost of $75,680 per BTC.

The company also said it increased its dollar reserve by $100 million, raising total cash reserves to $1 billion, and it funded the new buy with proceeds from at-the-market sales of Class A shares generating $181 million in net cash during the first week of June.

After the disclosure, shares in the company rose 6.55% in pre-market trade to $126.90, according to Yahoo Finance at the time of writing.

The renewed buying followed the backlash over Strategy’s earlier 32-BTC sale, which coincided with a 21% slide in bitcoin that briefly retested $61,000, its lowest level in four months.

Critics warned of a potential “doom loop” if the firm were ever forced to offload reserves, while CryptoQuant chief executive Ki Young Ju countered that Strategy’s accumulation had likely prevented much deeper declines.

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In that rebuttal, Ki Young Ju argued that bitcoin could have fallen to $22,000 without Strategy’s purchases, pushing back against the idea that the company’s model was destabilizing.

Analysts at Bernstein reiterated an “Outperform” rating and a $450 price target, highlighting Strategy’s continued stack growth through a roughly 50% drawdown and describing its balance sheet as resilient, over-collateralised and liquid.

The dispute over the sale also echoed in coverage that referenced CNBC host Jim Cramer accusing Ki Young Ju of “murdering Bitcoin,” and Ju’s response that “Bitcoin would have fallen to $22,000” without Strategy’s buys.

Beyond Strategy’s own balance sheet, the broader crypto market backdrop included spot Bitcoin ETFs recording $1.72 billion in net outflows for the week ending June 5, according to data from SoSoValue.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) led with $1.34 billion in weekly redemptions, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust ETF (GBTC) with $201.9 million and $144.3 million in outflows, respectively.

Matthew Pinnock, COO of Altura DeFi, said the redemptions reflect a “macro-driven repricing of risk,” pointing to stronger-than-expected U.S. employment data, rising Treasury yields, and a reduction in rate cut expectations.

The same coverage said spot Ether ETFs logged $173.05 million in outflows last week, extending their own four-week losing streak during which $885.6 million was pulled.

It also warned that if spot demand fails to absorb the selling pressure from ETF redemptions, BTC could be at risk of further downside, with the $63,800 level described as a support zone to watch.