- Michael Saylor’s latest social media post has fuelled expectations Strategy will announce another Bitcoin purchase.
- Strategy’s Bitcoin holdings are valued well below their purchase cost, leaving the company with an estimated paper loss of US$13-14 billion.
- Falling share prices and pressure on Strategy’s financing model have prompted criticism despite its continued accumulation strategy.
Michael Saylor has again hinted that Strategy could announce another Bitcoin purchase after sharing the company’s familiar acquisition tracker on X. Similar posts on 7 and 21 June were followed by disclosures of additional Bitcoin purchases the following day.
The latest chart shows Strategy’s Bitcoin holdings are currently valued at approximately US$50.8 billion (AU$72.14 billion), compared with a total acquisition cost of around US$64.1 billion (AU$91.02 billion).
As of 22 June, the company held 847,363 BTC purchased at an average price of US$75,646 (AU$107,417) per coin, leaving the position facing an unrealised loss estimated between US$13 billion (AU$18.46 billion) and US$14 billion (AU$19.88 billion) with Bitcoin trading near US$60,000 (AU$85,200).
The teaser follows Strategy’s smallest recent Bitcoin purchase, with the company acquiring 520 BTC for about US$35 million (AU$49.70 million) while increasing its cash reserves by US$300 million (AU$426 million) to US$1.4 billion (AU$1.99 billion).
Related: More Than Half of Australia’s Business Leaders Now Hold Crypto Assets
Financing Model Faces Scrutiny
Pressure has continued to build around Strategy’s funding model. MSTR shares fell to about US$82 (AU$116.44), their lowest level since February 2024, while the company’s STRC preferred stock dropped to a record low, pushing its enterprise value below the value of its Bitcoin holdings for the first time and making future capital raising more difficult.
The approach has attracted criticism from Ripple CEO Brad Garlinghouse, while CryptoQuant has urged Strategy to rebuild its cash reserves as dividend obligations have increased significantly. Despite those concerns, another purchase announcement would extend the company’s Bitcoin accumulation streak.
Related: Polymarket Vendor Breach Opens Door for $3M Crypto Heist
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