Strategy, the world's largest Bitcoin treasury firm, announced on Monday (22) the purchase of US$35 million worth of cryptocurrency. In addition, the company added US$300 million to its dollar reserve, reinforcing a change in its strategy.
This is the third time this month that Strategy has increased its USD reserves. Prior to this, the company had added US$900 million on June 8th and another US$100 million on June 15th .
One of the community's main focuses is on STRC, Strategy's preferred stock, which is trading in the $88.6 range at the time of writing after falling below $83 last week.
On social media, Michael Saylor wrote on Friday (19) that “volatility is never easy” , but that both they and Bitcoin continue to function.
Strategy sells MSTR to buy Bitcoin, but the main focus is on dollar reserves.
As usual, Strategy's investment was announced on Monday morning (22) by its founder. What is striking is the proportion between the additions of Bitcoin and dollars to its reserves.
“Strategy increased its US dollar reserves by $300 million to $1.4 billion and plans to continue replenishing this amount to support the credit quality of its Digital Credit securities. We also acquired 520 BTC for $35 million, bringing our BTC reserves to ₿847,363. $MSTR $STRC”
Strategy's increase in dollar reserves is almost 10 times greater than its Bitcoin purchases. Source: X.
As can be seen in the tweet above, the purchase of Bitcoin takes a backseat, even in the text.
In the Form 8-K filed with the SEC, it can be seen that the company sold $335.5 million in MSTRs to finance these purchases, without raising any capital through the sale of STRCs, as the preferred stock is still trading below $100.
Bitcoin is currently trading in the range of US$65,200 at the time of writing, up slightly by 2% in the last 24 hours.
Strive surpasses Strategy in weekly investment.
While Strategy bought 520 bitcoins, Strive announced the purchase of 759 bitcoins, helping to boost the cryptocurrency.
"Strive acquired an additional 759 BTC for approximately $50 million, at an average cost of approximately $65,850 per bitcoin."
Matt Cole, CEO of Strive, announces a new Bitcoin purchase for his company. Source: X.
Just as Strategy owns STRC, Strive owns SATA preferred stock, maintaining a similar strategy.
Currently, Strive ranks as the 7th largest Bitcoin reserve among publicly traded companies, between Bullish and SpaceX, with 19,864 coins. Strategy, on the other hand, remains far ahead in the lead with 847,363 bitcoins in its holdings.
Strategy and Strive continue to lead Bitcoin purchases. Source: Bitcoin Treasuries.
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