Strategy buys 520 BTC for $35M; treasury $9.8B underwater

Strategy, led by Michael Saylor, purchased 520 bitcoin for about $35 million on June 22, 2026, marking the firm’s third straight weekly acquisition. The purchase raises the company’s reported bitcoin reserve to 847,363 BTC.

Saylor announced the transaction in a post on X, writing “Looks better with more dots.” At the time of the disclosure, bitcoin traded near $64,564, putting Strategy’s holdings at a market value in the tens of billions of dollars.

The company reported a $300 million increase in its USD Reserve, bringing that balance to $1.4 billion. Strategy noted the larger cash balance is intended to support the credit quality of its Digital Credit securities.

Strategy has financed prior bitcoin purchases through a mix of debt issuance, equity sales and capital raised via preferred share instruments, including a preferred class labeled STRC.

Using the firm’s reported dollar-cost averaging range, Strategy’s cumulative cost basis places the treasury roughly $9.8 billion below current market value. The company noted the 520-coin tranche was smaller than some recent purchases and said the size could reflect timing of available capital, the mechanics of preferred share funding or deliberate pacing of acquisitions.

Over the past five years Strategy’s stock has risen more than 800%. The company remains the largest known corporate holder of bitcoin.

In a separate post on X, Saylor wrote, “Bitcoiners agree on the 99% that matters. We shouldn’t let the 1% divide us while nearly all global capital has yet to enter Bitcoin’s monetary network. The opportunity is bigger than the argument.” The company describes its approach as focused on expected long-term returns for bitcoin rather than short-term price movements.