Summary
- Strategy invested $35 million in Bitcoin while increasing its USD reserves for the third consecutive week.
- After STRC's drop to new lows last week, the firm now boasts $1.4 billion in cash.
- Strive surpassed Strategy’s activity, although its preferred stock rebounded from previous losses.
The Bitcoin treasury company Strategy has been accumulating cash for three weeks in a row, aiming to fortify its financial standing amid significant fluctuations in its flagship preferred share STRC.
Based in Tysons Corner, Virginia, the firm enhanced its USD reserve by $300 million, bringing the total to $1.4 billion, as stated in a press release. This funding was entirely sourced from issuing common stock, generating $335 million for the company.
Strategy has enhanced its USD Reserve by $300 million to $1.4 billion and intends to keep replenishing it to bolster the credit quality of its Digital Credit securities. We also acquired 520 BTC for $35 million, raising our $BTC Reserve to ₿847,363. $MSTR $STRC…
— Michael Saylor (@saylor) June 22, 2026
Additionally, the firm purchased 520 BTC for $35 million, marking its smallest acquisition since selling 32 BTC three weeks prior, which came before the firm experienced its worst weekly performance since November 2022.
With Bitcoin priced around $65,000, reflecting a 1.5% rise over the previous day, Strategy's total Bitcoin holdings are valued at approximately $55 billion. The company now possesses 847,363 BTC, indicating an unrealized loss of about $9 billion.
Strategy and STRC
Strategy's recent actions were focused on Stretch (STRC), a product currently offering an annual dividend of 11.5%. The price of STRC dropped to as low as $82.53, falling around 17% from its $100 par value, which tested investors’ confidence in Michael Saylor’s vision for “digital credit” last Friday.
This year, STRC has allowed Strategy to acquire substantial amounts of Bitcoin, yet the ongoing expenses related to it have raised concerns among investors, according to analysts. STRC stabilized around $91 shortly after the market opened, based on data from Yahoo Finance.
Given that STRC has burdened Strategy with an additional $100 million in monthly costs, the company’s cash reserves have become a crucial element for demonstrating the sustainability of its business model to investors.
With $1.4 billion in cash, Strategy now has more resources to manage dividends and obligations. On Monday, Saylor tweeted that the firm “plans to continue replenishing them to support the credit quality of its Digital Credit securities.”
On Friday, in observance of Juneteenth, Saylor acknowledged the pressure that STRC’s decline has exerted on certain investors, including retirees who viewed the product as a low-risk option. He remarked, “Volatility is never easy.”
For common stockholders, Strategy’s initiative to restore cash reserves, which were $2.25 billion just months ago, has negatively impacted one of the company’s key performance metrics.
The firm has consistently aimed to increase the amount of Bitcoin owned per share. Following the latest developments, the year-to-date growth rate of Bitcoin-per-share decreased from 12.8% to 11.8% over a three-week period.
“You destroyed value by effectively selling $1.20 worth of Bitcoin to buy $1 worth of Bitcoin,” remarked economist and Bitcoin critic Peter Schiff in a tweet.
Nevertheless, Strategy’s stock experienced a 3.8% increase, reaching $116.60, with earlier peaks hitting $120, slightly reducing the 27% losses seen in the past month.
Strive Surpasses Strategy’s Bitcoin Purchases
Asset management firm Strive announced on Monday that it acquired 750 BTC, bringing its total holdings to 19,864 BTC, valued at approximately $1 billion. Strive offers a comparable product to Stretch, known as SATA, which currently boasts a 13% annual dividend rate.
SATA's price rose by 0.6% to $98.26, a significant increase from $92.88 on Friday. The company’s common shares also saw a 6.3% rise to $15.71, although this still reflects a 13% decline over the past month.
Strive CEO Matt Cole suggested on Friday that SATA’s recent downturn resulted from a liquidation event, indicating that the preferred stock faced forced selling as weakness in STRC impacted other similar products.
“Friday was the most significant stress test Digital Credit has faced so far,” he stated. “The market absorbed it, buyers emerged, and both securities recovered substantially from their lows.”