Summary
- Strategy said it spent $101 million to buy an additional 1,550 Bitcoin.
- The purchase brought Strategy’s Bitcoin holdings to 845,256 BTC, which the company said was part of an effort to expand its Bitcoin reserve assets.
- Strategy also increased its dollar reserves by $100 million to a total of $1 billion, and the market is watching the company’s treasury management strategy.
Forecast Trend Report by Period
Strategy, formerly known as MicroStrategy, bought more Bitcoin, rebuilding its holdings after a recent controversy over a small sale and signaling it remains committed to a long-term accumulation strategy.
On June 8, Chairman Michael Saylor wrote on X, formerly known as Twitter, that Strategy spent $101 million to buy an additional 1,550 Bitcoin.
The purchase brought Strategy’s Bitcoin holdings to 845,256 BTC. Saylor described the move as part of an effort to expand the company’s Bitcoin reserve assets.
Strategy also increased its dollar reserves. The company added $100 million, bringing the total to $1 billion.
The announcement followed Strategy’s recent sale of 32 Bitcoin to help fund preferred stock dividend payments. That sale had raised concerns in the market that the company’s long-term Bitcoin holding strategy might be weakening.
The latest purchase is likely to bolster the view that Strategy is maintaining its Bitcoin accumulation stance. Market participants are watching how the company’s buying during a Bitcoin price correction, along with its larger cash reserves, will shape its treasury management strategy.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
