Saylor's Strategy Adds 1,587 More Bitcoins to Reserves

Michael Saylor's company Strategy has continued its accumulation of Bitcoin despite market weakness. The latest purchase sees the company add 1,587 BTC to its reserves for $100 million.

The acquisition brings Strategy's total holdings to 846,842 BTC, valued at around $64.07 billion. This represents a significant exposure to the cryptocurrency market, with Saylor's strategy focusing on buying during downturns to accumulate more Bitcoin at better prices.

Strategy funded this purchase through its ATM program, which allows it to issue securities and raise capital. The company sold approximately 1.73 million ordinary MSTR shares between June 8 and June 14, generating around $209 million in revenue.

The proceeds from the share sale were not entirely used for the Bitcoin acquisition, with only a portion of the funds allocated towards purchasing BTC.