Saylor’s $100M Bitcoin Blitz Sparks Massive Crypto Accumulation—What’s Next for His 846.8K BTC Empire?

Ever wonder what it takes for the world’s largest public Bitcoin holder to keep stacking sats even when the price tags are less than flattering? Michael Saylor’s Strategy just dropped a cool $100 million on 1,587 BTC, scooping these coins while Bitcoin’s price lingered stubbornly below their average cost basis of around $75,700. Talk about buying the dip with serious conviction! This move not only nudges their average cost a smidge lower but pushes their massive trove to an uncanny 846,842 BTC, worth roughly $56.1 billion at current prices. Now, what’s even more fascinating is that these crypto acquisitions are funded through sales of Strategy’s own stock—because, why not recycle profits within the empire, right? And yes, even after selling a tiny fraction of Bitcoin recently—which ruffled some feathers—Saylor insists it’s all part of a savvy strategy to maintain a strong digital credit business. So, is this a case of buying low and loving it, or a deliberate playbook in the unpredictable crypto chess game? Dive into the full scoop and figure out what “still adding dots” really means in today’s market hustle. LEARN MORE.

Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, added to its cryptocurrency reserves last week as BTC continued to trade below the company’s average cost basis of about $75,700.

Strategy acquired 1,587 Bitcoin (BTC) for $100 million between June 8 and Sunday, according to Monday’s 8-K filing with the US Securities and Exchange Commission.

Source: SEC

The purchase was made at an average price of $63,024 per Bitcoin, bringing the company’s overall average cost basis slightly lower to $75,656.

With the latest buy, Strategy now holds 846,842 BTC, accumulated at a total cost of $64.07 billion. At the current price of about $66,216 per bitcoin, those holdings are worth roughly $56.1 billion, according to CoinGecko data.

MSTR sales behind the purchase

Similar to the previous 1,550 BTC acquisition announced last Monday, Strategy funded the latest acquisition through sales of its Class A common stock (MSTR).

In the filing, the company said it raised about $209 million by selling 1.73 million MSTR shares during the period. Preferred share programs, including STRC, STRF, STRK and STRD, showed no activity during the week.

According to STRC.live, a tracker of Strategy’s preferred stock programs, STRC traded below its $100 par value for a fourth consecutive week as of June 12. The stock remained in the mid-$96 range, marking its longest stretch below par since launch.

STRC closed at $94.80 on Friday, down around 1%, according to TradingView data.

Source: STRC.live

Strategy executive chairman Saylor hinted at the latest purchase in a post on X on Sunday, writing, “Still adding dots,” a phrase investors have come to associate with the company’s upcoming Bitcoin acquisitions.

Source: Michael Saylor

The latest buy comes about two weeks after Strategy disclosed the sale of 32 BTC on June 1, its first reported Bitcoin sale in years. While the transaction represented only a tiny fraction of the company’s holdings, the sale ignited debate in the community, with some industry observers questioning whether the company was moving away from its long-standing buy-and-hold approach.

Saylor recently defended the sale, telling Cointelegraph that Bitcoin treasury companies must retain the ability to sell holdings to support dividend-paying securities.

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