Michael Saylor’s Strategy Buys $1B in Bitcoin Days After Launching STRD on Nasdaq

Michael Saylor’s firm, Strategy, has added another massive chunk of Bitcoin to its already dominant corporate stash. On June 16, the company revealed it had purchased 10,100 BTC—worth $1 billion—between June 10 and June 15, during a week marked by heightened tensions in the Middle East.

The coins were bought at an average price of $104,080, as Bitcoin dipped in response to reports of Israeli strikes on Iranian nuclear sites. The week’s volatility saw BTC fall from around $110,000 to a low of $103,639 on June 12.

This marks Strategy’s second major Bitcoin acquisition in June and boosts the firm’s total holdings to 592,100 BTC, bought at an average price of $70,666. The company’s total Bitcoin spend now sits near $41.8 billion.

The purchase closely follows the June 11 launch of STRD, Strategy’s third Bitcoin-backed preferred stock, which began trading on Nasdaq. Through STRD, the company aims to raise $250 million via an IPO of 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock, each priced at $100. Proceeds will be used to acquire even more Bitcoin.

Strategy continues to solidify its position as the world’s leading corporate Bitcoin holder, linking both capital markets and crypto through its stock offerings.