Lucía Peña
Bitcoin-focused treasury firm Strategy (formerly MicroStrategy) announced the acquisition of 245 BTC between June 16 and June 22, investing roughly $26 million at an average price of $105,856 per Bitcoin. According to an 8-K filing with the SEC, this move brings the company’s total Bitcoin reserves to 592,345 BTC, worth over $60 billion.
Co-founder and Executive Chairman Michael Saylor revealed that the firm acquired its Bitcoin at an average cost of $70,681 per coin, representing roughly 2.8% of Bitcoin’s total supply and yielding about $18 billion in unrealized gains.
The recent acquisition was made possible through the sale of ATM shares of the firm’s STRK and STRF preferred stock. In the last week:
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166,566 STRK shares were sold for approximately $17.4 million, with $20.6 billion still available for issuance.
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84,354 STRF shares were sold for $8.7 million, with $1.97 billion available for future sales.
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No MSTR Class A common stock was sold, leaving roughly $18.6 billion available for issuance.
These offerings are part of the company’s “42/42” plan, an ambitious initiative aimed at raising $84 billion via equity offerings and convertible notes for further Bitcoin acquisitions through 2027 — an expansion from the initial “21/21” target.
Analyst Insights: New STRD Stock Will Drive Long-Term Growth
Analysts at TD Cowen have pointed out that Strategy’s latest preferred stock, STRD, will be highly advantageous for MSTR shareholders. Its fixed 10% annual dividend and non-convertible structure create a low-cost, stable channel for future Bitcoin buys, amplifying returns as long as the price of Bitcoin continues to rise.
Here’s a quick breakdown of Strategy’s preferred offerings:
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STRF: 10% fixed cumulative annual dividend — safest option.
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STRK: 8% fixed non-cumulative annual dividend — balanced risk and conversion potential.
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STRD: 10% fixed non-cumulative annual dividend — highest risk, but highest potential returns.
“Nothing Stops This Orange” — The Bitcoin Acquisition Never Ends
In a recent post highlighting Strategy’s Bitcoin tracker, Saylor stated, “Nothing Stops This Orange”, referring to the unstoppable nature of the Bitcoin accumulation trend, akin to analyst Lyn Alden’s famous phrase “nothing stops this train” about the inevitability of fiat debasement.
Earlier in June, the company announced an additional 10,100 BTC purchase worth approximately $1.05 billion, bringing its total holdings to 592,100 BTC at that time. The shift from common stock ATM offerings to preferred stock sales marks a new chapter in Strategy’s aggressive Bitcoin accumulation campaign.
A Growing Movement: Hundreds of Firms Embrace Bitcoin as a Treasury Asset
Today, more than 200 firms have embraced Bitcoin as a core treasury holding, inspired by Strategy’s model. New entrants include names like:
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Twenty One
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Nakamoto
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Trump Media
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GameStop
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Semler Scientific
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KULR
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Metaplanet, which announced its own 1,111 BTC acquisition, bringing its total to 11,111 BTC.
