Overview
- The company disclosed Monday that it bought 1,550 Bitcoin for about $101 million, raising its total holdings to roughly 845,256 BTC and lowering its overall cost basis.
- Strategy financed the purchase partly with at-the-market sales of about 1.41 million MSTR shares that raised roughly $181 million and used part of the proceeds to increase US dollar reserves by $100 million to $1.0 billion.
- The buy follows a small sale of 32 BTC earlier in late May that was used to service STRC preferred-stock dividends and had drawn sharp market scrutiny about dividend coverage and liquidity.
- Senior leaders publicly reaffirmed a long-term goal to increase net Bitcoin and Bitcoin per share while disclosing planned executive stock sales tied to vested awards totaling about $15 million.
- Analysts, led by JPMorgan, urged clearer plans to rebuild dollar reserves and estimated Strategy could buy tens of billions of dollars of Bitcoin this year if its funding programs and market access persist.