Michael Saylor continues his bitcoin accumulation despite market weakness. Strategy just invested $100 million in an additional 1,587 BTC, bringing its total reserves to 846,842 bitcoins.
In brief
- Strategy buys 1,587 BTC for $100 million.
- Its reserves now reach 846,842 bitcoins.
- The transaction was financed by the sale of MSTR shares.
Strategy adds another 1,587 Bitcoin
Strategy purchased 1,587 BTC between June 8 and 14, 2026. The operation comes only a week after its previous purchase, which had already allowed the company to add 1,550 bitcoins to its balance sheet.
The average price of this new acquisition reaches $63,024 per Bitcoin. Strategy is therefore taking advantage of a weakened market to buy significantly below its overall average acquisition cost, now set at $75,656 per bitcoin.
Following the transaction, the company holds precisely 846,842 BTC. These reserves cost approximately $64.07 billion. Strategy thus remains, by far, the listed company most exposed to Bitcoin.
The company didn't just use its available cash. It financed the acquisition through its at-the-market share sales program, called ATM. This mechanism allows it to gradually issue securities to raise capital.
Between June 8 and June 14, Strategy sold approximately 1.73 million shares of MSTR common stock. These operations generated nearly $209 million. Less than half of this sum was then spent on purchasing Bitcoin.
The programs relating to the preferred shares STRC, STRF, STRK and STRD remained inactive during the same period. Strategy therefore favored the issuance of its ordinary shares, probably to avoid immediately strengthening its commitments linked to preferential dividends.
A portfolio still under pressure
The new acquisition slightly reduces the average cost price of the portfolio. But it is not enough to put Strategy back into gain on all of its bitcoins when BTC moves below $75,656.
This situation shows the double face of Michael Saylor's strategy. Buying during pullbacks allows you to accumulate more BTC at a better price. But each new purchase also increases the company's financial exposure to a particularly volatile asset.
The MSTR stock price is now largely dependent on this huge reserve. When Bitcoin advances, investors can view Strategy as amplified exposure to BTC. When the market falls, the effect works in the other direction and increases concerns around the balance sheet.
Saylor does not give up on his model
Michael Saylor had hinted at the arrival of this acquisition in a message published on Sunday. His formula, “keep adding points”, regularly accompanies Strategy's purchase announcements and now functions as a signal expected by the market.
This accumulation confirms that the company is not calling into question its main orientation. Strategy continues to use financial markets to transform part of the capital raised into Bitcoin, even when its portfolio shows an unrealized loss.
However, the model becomes more complex. The company must manage its debt, dollar reserves, common stock, and several classes of preferred securities. In particular, it has a liquidity reserve of $1.1 billion intended to support the payment of dividends and interest.
So the question is no longer just how much Bitcoin Strategy can buy. Investors also observe its ability to sustainably finance its commitments without excessively damaging its shareholders. After the recent sale of 32 BTC, this new purchase shows that Saylor remains faithful to accumulation, while maintaining more flexible room for maneuver than before.
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