June 9, 2026
Michael Saylor’s Strategy has added 1,550 BTC to its treasury, spending roughly $101.3 million between June 1 and June 7 at an average price of $65,332 per coin. The purchase was disclosed in an SEC filing dated June 8 and pushes the firm’s total holdings to 845,256 BTC – valued at approximately $53.1 billion at current prices.
The timing matters. This acquisition comes days after Strategy quietly sold 32 BTC, a transaction small enough to be meaningless by dollar terms but loud enough to dominate headlines given Saylor’s decade-long stance as an unconditional Bitcoin buyer. The 32-coin sale was framed by some observers as a crack in the thesis. The 1,550-coin follow-up is, unmistakably, the rebuttal.
Strategy funded the purchase through its at-the-market stock program – the same equity-dilution engine it has used to systematically convert MSTR share value into Bitcoin since 2020. The firm still has roughly $26 billion in MSTR ATM capacity remaining, plus additional buffers across four preferred stock programs: STRC ($17.5B), STRD ($4B), STRK ($2.1B), and STRF ($1.6B). Dry powder is not the constraint here.
What the filing also confirms, however, is that Strategy’s average cost basis now sits at $75,680 per BTC – above current market prices. With Bitcoin trading near $62,850 at time of writing, the company is sitting on an unrealized loss of roughly $11 billion. That number will follow every headline until BTC reclaims $75K.
The broader picture: Strategy is no longer just a Bitcoin bet – it is a leveraged institutional precedent. Every purchase it makes normalizes corporate treasury allocation into a volatile asset, influencing how CFOs, sovereign wealth funds, and public pension managers think about Bitcoin as a reserve. The $101M is almost irrelevant by itself. What it signals – continued conviction at a loss, using equity capital, in front of regulators – is the actual story.
Whether that conviction is genius or recklessness depends entirely on where Bitcoin trades twelve months from now.
