Strategy Inc., formerly MicroStrategy, has fortified its balance sheet, pushing cash reserves to the $1 billion mark while simultaneously expanding its massive Bitcoin treasury.
The Tysons Corner-based firm acquired 1,550 Bitcoin between June 1 and June 7, deploying $101.3 million at an average price of roughly $65,332 per coin. The purchase brings the company’s total holdings to 845,256 BTC, acquired at a cumulative cost of $63.97 billion.
In a notable strategic deviation, Strategy sold 32 BTC during the same period to provide dollar-denominated liquidity for preferred stock dividends. This transaction, the first sale since 2022, broke a years-long accumulation streak but remains negligible against the total treasury.
The $1 billion cash reserve target was restored after the company conducted a $1.5 billion convertible note repurchase in May, which had temporarily drained its liquid holdings. The firm subsequently raised $181 million through an at-the-market equity program to recapitalize its USD position.
The cash buffer is designed to insulate the company from crypto market volatility and ensure it can meet dividend obligations without liquidating core Bitcoin assets. With recent purchases executed below the company’s average cost basis of $75,680, the treasury position is steadily improving. However, the corporate structure remains heavily concentrated, with cash reserves representing less than 2% of the capital already committed to the digital asset.