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Strategy Acquires 1,550 BTC for $101 Million

Strategy Acquires 1,550 BTC for $101 Million

Strategy buys 1,550 BTC for $101 million, financed by MSTR share sales.

Strategy has acquired an additional 1,550 BTC for $101.3 million. The purchase was financed through the sale of 1,409,600 MSTR shares under the ATM program.

According to a report for the U.S. Securities and Exchange Commission, the transactions took place from June 1 to June 7. The average purchase price was $65,332 per coin.

Strategy holds 845,256 BTC valued at approximately $53.5 billion. The company’s total expenditure on cryptocurrency, including fees and expenses, amounts to $64 billion. The average entry price for the entire portfolio is $75,680.

At current levels, the company’s unrealized loss is approximately $10.5 billion. Meanwhile, Strategy controls more than 4% of the total Bitcoin supply.

A week earlier, Strategy disclosed the sale of 32 BTC for $2.5 million at an average price of $77,135. The company stated that the proceeds were intended for preferred stock payments.

BitMine Reserves

BitMine Immersion Technologies increased its Ethereum holdings to 5.54 million ETH — the company’s largest purchase since the beginning of the year. The firm now controls 4.59% of the total supply of the second-largest cryptocurrency by market capitalization.

The total value of BitMine’s assets, including cryptocurrency and cash, amounted to $9.6 billion. As of June 7, the company holds:

  • 5.54 million ETH;
  • 204 BTC;
  • stakes in Beast Industries ($180 million) and Eightco ($88 million);
  • $247 million in cash.

BitMine maintains its position as the largest corporate holder of Ethereum. In the global crypto reserves ranking, the company is second only to Strategy with its 843,706 BTC reserve.

Approximately 4.7 million ETH are staked through the company’s own platform MAVAN and partner services. The expected annual yield from this activity is $270 million.

Bitmine Chairman Thomas Lee noted that the company will continue to acquire coins.

In June, Grayscale analysts described Strategy’s first Bitcoin sale in a long time as a “stress test” of its financial model.

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