Strategy has expanded its Bitcoin holdings while increasing the cash reserve used to support its financial obligations. The company bought 520 Bitcoin after raising $335.5 million through sales of its common stock.
The purchase lifted Strategy’s total holdings to 847,363 BTC. Still, Bitcoin market indicators have yet to confirm a strong price recovery. Adjusted spending data and momentum readings show that investor confidence remains weak.
Strategy sold about 2.71 million MSTR shares through its at-the-market equity program between June 15 and June 21. The sales generated $335.5 million in net proceeds, according to a regulatory filing.
The company allocated $34.9 million to the purchase of 520 Bitcoin. It paid an average price of $67,068 for each coin. Strategy placed another $300 million into its US dollar reserve, raising that reserve to $1.4 billion.
Strategy now owns 847,363 Bitcoin acquired for about $64.1 billion. Its average purchase cost stands at $75,651 per coin. The company remains the largest publicly traded corporate holder of Bitcoin.
The dollar reserve supports dividend payments linked to Strategy’s preferred securities and other obligations. The company said it plans to replenish the reserve based on market conditions to support its Digital Credit products.
Strategy increased its cash position after its STRC preferred shares fell below $90. STRC is designed to trade near its $100 reference value, but recent selling pressure pushed the security to a record low below $83.
STRC later recovered and closed Thursday at $88.59, down 0.46% for the session. It moved to $90.59 in Monday’s premarket trading, although the price stayed below its $100 reference level.
Bitcoin supporter Samson Mow described STRC as having a ‘self-repairing mechanism.’ He said Strategy stops issuing new STRC shares through its at-the-market program when the price drops below $100.
This action can limit new supply. Meanwhile, a lower share price raises the effective yield available to new buyers. Mow said these conditions could attract demand and move STRC closer to $100. Still, the description of the structure as ‘self-repairing’ depends on buyers returning when the yield rises.
Strategy’s common shares also faced selling pressure last week. MSTR closed Thursday at $112.53 after falling 3.46%. The stock later gained about 3.5% as Bitcoin moved back toward $65,000.
Bitcoin rebounded toward $64,300, but market data did not confirm a wider reversal. According to CryptoQuant data, the adjusted spent output profit ratio, known as aSOPR, stayed close to the key level of 1.
A reading above 1 shows that investors are selling Bitcoin at a profit. A figure below 1 shows that coins are being sold at a loss. Bitcoin’s inability to hold above 1 suggests that profitable selling has not returned across the market.
Profit-taking among long-term holders has also weakened. This pattern may show that holders are waiting for better prices rather than selling into the current rebound. Therefore, Strategy’s purchase represents a dip-buying move rather than proof of a broader recovery.
Momentum readings showed similar caution. Bitcoin’s relative strength index stood near 42. The reading improved from lower levels but remained below the area commonly linked to stronger buying momentum.
The Chaikin Money Flow indicator was near neutral at minus 0.02. Capital flows showed some improvement, but buyers had not gained clear control. Bitcoin still needs stronger momentum and an aSOPR move above 1 before the rebound gains firmer market support.
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