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Strategy Inc. disclosed Monday it acquired 520 bitcoin for approximately $35 million in its third straight weekly purchase, bringing total holdings to 847,363 $BTC while expanding its cash war chest to support growing obligations tied to its preferred stock program.
Executive Chairman Michael Saylor announced the transaction on X Monday morning, noting that the company also increased its USD Reserve by $335 million to $1.4 billion. The company sold roughly 2.7 million shares of MSTR, according to a Monday morning filing, raising that $335.5 million.
The reserve, first established in December 2025, exists to fund dividend payments on Strategy’s preferred equity securities and interest on its debt — a financial cushion the company has built as its capital structure grows more complex.
The purchase was smaller than the prior two weeks. Strategy acquired 1,550 $BTC for $101 million in the week ending June 7, then 1,587 $BTC for $100 million in the week ending June 14. The 520-coin tranche at an average price of $67,068 per coin represents a step back in volume, though Saylor gave no indication it marks a change in posture.
He telegraphed the buy a day early, as has become his habit. On Sunday, he posted to X: “Looks better with more dots.” Followers of Strategy’s weekly announcement cycle have come to treat the phrase as a near-certain preview of a Monday purchase disclosure.
Saylor also used the weekend to address tensions inside the Bitcoin community. “Bitcoiners agree on the 99% that matters,” he wrote on X Sunday. “We shouldn’t let the 1% divide us while nearly all global capital has yet to enter Bitcoin’s monetary network. The opportunity is bigger than the argument.”
Strategy’s bitcoin position
Strategy sits on a $BTC position that, at current prices near $64,200 per coin, carries a market value around $54 billion. The company’s aggregate cost basis across all purchases exceeds $64 billion, leaving it roughly $9.8 billion underwater at current prices. That gap has done nothing to slow the accumulation of cadence.
Saylor has defended this posture in public forums for years, framing it as a long-duration bet on bitcoin’s trajectory rather than a trade with a near-term exit.
Strategy’s stack now includes multiple layers. Strategy raises capital through at-the-market sales of its Class A common stock, its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), and other preferred instruments carrying fixed dividend requirements.
In May, the company repurchased $1.5 billion in convertible notes at an 8% discount to par, cutting its convertible debt load from $8.2 billion to $6.7 billion. It funded that move through a combination of cash reserves, a $2 billion STRC issuance, and $84 million in common stock sales.
The $300 million reserve expansion announced Monday reflects the growing cost of maintaining that structure. Strategy’s year-to-date $BTC Yield — its internal metric tracking bitcoin per share accretion — stands at 11.8% as of the latest filing, down from 13.3% reported in late May.
Strategy has now purchased bitcoin in each of the last three weeks after a brief period in late May that included the company’s first disclosed $BTC sale since 2022 — 32 coins for $2.5 million, used to fund a preferred dividend. CEO Phong Le called that sale a deliberate test of operational flexibility, not a retreat from the core strategy.
The firm currently holds more bitcoin than any other public company on earth, a position it has built over six years through one of the most concentrated institutional bets on a single asset in corporate history.
Fellow Bitcoin treasury firm Strive acquired 759 $BTC last week, surpassing Strategy’s 520 $BTC purchase — a somewhat rare instance in which the smaller company accumulated more bitcoin than the world’s largest corporate holder.
This post Michael Saylor’s Strategy (MSTR) Buys 520 Bitcoin, Raises USD Reserve to $1.4 Billion first appeared on Bitcoin Magazine and is written by Micah Zimmerman.