Strategy (MSTR) Stock Jumps 7% as Bitcoin Buying Resumes After Sell Drama

TLDR

• Strategy bought 1,550 BTC for ~$101.3 million, raising total holdings to 845,256 BTC.
• The purchase was made at an average price of $65,332 per BTC — below the company’s overall average of $75,680.
• Funding came from $181 million in stock sales through its at-the-market offering program.
• The buy follows last week’s controversial 32 BTC sale, Strategy’s first since 2022, which coincided with a 15–21% Bitcoin price drop.
• MSTR rose 6.55% in pre-market trading to $126.90 following the announcement.

Strategy (MSTR) is back buying Bitcoin. The company purchased 1,550 BTC for approximately $101.3 million, according to a Monday 8-K filing with the SEC. MSTR rose 6.55% in pre-market trading to $126.90 following the news.

Strategy Inc, MSTR

The purchase brings Strategy’s total Bitcoin holdings to 845,256 BTC, acquired at an aggregate average price of $75,680 per coin, for a total cost of roughly $63.97 billion.

At Bitcoin’s current price of around $63,600, those holdings are worth approximately $53.8 billion.

The latest buy was made at an average of $65,332 per BTC — a price below the company’s overall average, meaning the purchase slightly lowers Strategy’s cost basis across its full stack.

To fund the acquisition, Strategy raised $181 million through common stock sales via its at-the-market offering program during the first week of June.

The company also used part of those proceeds to boost its U.S. dollar cash reserves by $100 million, bringing total cash on hand to $1 billion.

A Return to Buying After a Rocky Week

The purchase comes after a turbulent stretch. On June 1, Strategy sold 32 BTC — its first Bitcoin sale since 2022 — for around $2.5 million. It was a small transaction by any measure, but the market reacted sharply.

Bitcoin dropped roughly 15–21% following the sale, briefly falling below $60,000 for the first time in four months before recovering above $62,000. The move sparked criticism from traders, some of whom warned of a potential “doom loop” if Strategy were ever forced to sell larger portions of its holdings.

CNBC host Jim Cramer went as far as accusing Michael Saylor of “murdering Bitcoin.” CryptoQuant CEO Ki Young Ju pushed back, arguing that without Strategy’s ongoing purchases, Bitcoin would have fallen to $22,000.

Analysts Stay Bullish

Analysts at Bernstein backed that view in a Monday note. They highlighted Strategy’s ability to continue growing its Bitcoin stack through a roughly 50% price drawdown, pointing to its overcollateralized and liquid balance sheet.

Bernstein reiterated an “Outperform” rating and a $450 price target on MSTR.

The 1,550 BTC purchase marks Strategy’s first acquisition since the June 1 sale and brings the company firmly back into accumulation mode.

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