Summary
- Michael Saylor said Strategy increased its dollar reserves by $300 million, bringing the total to $1.4 billion.
- Strategy spent $35 million to buy 520 BTC, raising its total Bitcoin holdings to 847,363 BTC, with an average purchase price of about $67,308.
- The market is focused on Strategy’s move to bolster the credit stability of its digital credit securities by expanding dollar reserves while continuing to buy Bitcoin.
Strategy Executive Chairman Michael Saylor said the company expanded its dollar reserves to $1.4 billion and bought additional Bitcoin.
In a post on X on June 22, Saylor wrote that Strategy increased its dollar reserves by $300 million to $1.4 billion.
The company plans to continue adding to those reserves to support the credit quality of its digital credit securities.
Strategy also purchased more Bitcoin, spending $35 million to buy 520 BTC. The purchase lifted the company’s total Bitcoin holdings to 847,363 BTC.
The average price for the latest purchase was about $67,308 per Bitcoin.
The market is focused on Strategy’s parallel moves to buy more Bitcoin and expand its dollar reserves. Amid recent concerns about volatility in digital credit securities including STRC, the company appears to be reinforcing credit stability by increasing cash-like reserves.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
