Strategy Acquires 520 BTC, Boosts USD Reserve to $1.4 Billion

Strategy, a bitcoin treasury firm, acquired 520 BTC for approximately $35 million last week. This purchase increased Strategy's total Bitcoin holdings to 847,363 BTC and its USD Reserve to $1.4 billion.

The company financed this purchase through the sale of MSTR shares, generating around $335.5 million in proceeds. However, it did not provide a detailed breakdown of how these remaining funds were used.

Strategy's acquisition price averaged $67,068 per BTC, lower than its previous week's Bitcoin buy of about $100 million worth of coins.

Michael Saylor defended the company's funding model on June 20, stating that Strategy's combined Bitcoin and cash holdings exceed its outstanding debt by approximately $48 billion. He also mentioned that the company has raised over $60 billion in capital since 2022, which was deployed towards Bitcoin purchases.