Strategy, led by Michael Saylor, has bought another $100 million worth of Bitcoin. The buy comes one week after a separate $101 million BTC purchase, so the company has quickly returned to buying after a small sale earlier in the month.
Key Takeaways
- Strategy now holds 846,842 Bitcoin.
- The company recently sold 32 BTC for $2.47 million, its first Bitcoin sale since 2022.
- Strategy also raised its US dollar reserve by $100 million to $1.1 billion.
Strategy Keeps Buying Bitcoin After Small Sale
Strategy added another $100 million in Bitcoin, keeping its place as the largest corporate Bitcoin holder in the world. For new Bitcoin investors, that means no public company owns more BTC than Strategy.
The purchase also matters because it came shortly after a rare sale. Earlier in June, Strategy sold 32 BTC worth $2.47 million. That sale stood out because Saylor has spent years telling investors not to sell Bitcoin.
Even so, Saylor had already warned that a small sale could happen. On a recent earnings call, he said the company would “probably sell some Bitcoin to fund a dividend just to inoculate the market – just to send the message that we did it.”
So, rather than walking away from Bitcoin, Strategy appears to be showing that it can sell a small amount when needed and still keep buying.
What Strategy Bitcoin Holdings Mean
After the latest purchase, Strategy owns 846,842 BTC, worth about $56.9 billion at the time of writing. The company also added $100 million to its US dollar reserve, bringing that cash reserve to $1.1 billion.
A treasury reserve asset is the asset a company holds as part of its long term financial reserves. Many companies use cash, bonds, or other low risk assets. Strategy took a different route and made Bitcoin its main treasury reserve asset.
That approach gives Strategy stock a close connection to Bitcoin price action. When BTC rises, investors often pay more attention to Strategy shares. When Bitcoin falls, Strategy stock can also take a hit.
Bitcoin And Strategy Stock Both Rise
Strategy stock climbed more than 8% on Monday and nearly 9% over the past week. Still, the stock remained down more than 24% over the past month.
Bitcoin also gained nearly 5% on Monday and almost 6% over the past seven days.
For anyone learning how to buy Bitcoin, the main lesson is simple enough. Big companies can buy and sell BTC too, but their actions do not remove the risk. Bitcoin can rise fast, fall hard, and affect related stocks like Strategy along the way.
Strategy was the first public company to make BTC its only treasury reserve asset. That decision turned it into the main stock market proxy for Bitcoin, meaning many investors use Strategy shares as an indirect way to get exposure to BTC.