MSTR
STRC
Another week, another Bitcoin grocery run
Strategy did what Strategy does: it kept buying Bitcoin. Between June 15 and June 21st, the company picked up 520 BTC for $34.9 million, bringing its stash to 847,363 coins.
At today’s prices, that pile is worth about $54.8 billion. The catch? The cost basis is still around $64.1 billion, which means the company is sitting on roughly $9.3 billion in paper losses. So yes, the Bitcoin empire is still very much a live experiment.
The cash cushion gets thicker
Michael Saylor also said Strategy added $300 million to its dollar reserve, lifting it to $1.4 billion. That’s not just a random rainy-day fund — the company says the goal is to support the credit quality of its Digital Credit securities, including STRC.
In other words, Strategy is trying to do two things at once:
- keep stacking Bitcoin like it’s a religion
- make the debt side look a little less like a tightrope act
But the stock still has to deal with dilution
Here’s the part shareholders tend to squint at: Strategy funded the whole thing by selling 2,714,839 shares of MSTR through its at-the-market program, pulling in about $335.5 million. That’s great if you like balance-sheet flexibility. Less great if you already own the stock and enjoy the concept of your slice getting thinner.
MSTR also looks technically shaky after breaking below its trendline last week, though it’s bouncing in premarket. So the market is basically asking the oldest Strategy question there is: is this a genius treasury machine, or just a very expensive way to keep buying the same thing?
Big picture: Strategy is still turning MSTR into a leveraged Bitcoin vehicle with a side of credit support. If BTC keeps climbing, investors will call it bold. If it stumbles, the dilution and paper losses get a lot louder.