Strategy's Michael Saylor hinted at another Bitcoin purchase on June 28 after sharing the company's acquisition tracker on X, following a pattern where similar posts on June 7 and June 21 preceded purchase announcements the following day. The hint comes as Strategy's Bitcoin holdings face an estimated unrealized loss between US$13 billion and US$14 billion, with the company holding 847,363 BTC as of June 22 at an average purchase price of US$75,646 per coin while Bitcoin trades near US$60,000. Strategy's financing model has drawn criticism from Ripple CEO Brad Garlinghouse and CryptoQuant as MSTR shares fell to approximately US$82, their lowest level since February 2024, and the company's enterprise value dropped below the value of its Bitcoin holdings for the first time.
Strategy Faces US$13-14 Billion Unrealized Loss on Bitcoin Holdings
Strategy's Bitcoin holdings are currently valued at approximately US$50.8 billion compared with a total acquisition cost of around US$64.1 billion, according to the acquisition tracker Saylor posted on June 28. As of June 22, the company held 847,363 BTC purchased at an average price of US$75,646 per coin, leaving the position facing an unrealized loss estimated between US$13 billion and US$14 billion with Bitcoin trading near US$60,000.
Strategy Acquires 520 BTC in Smallest Recent Purchase
Strategy's most recent Bitcoin purchase involved acquiring 520 BTC for about US$35 million while increasing its cash reserves by US$300 million to US$1.4 billion. The 520 BTC acquisition represents the company's smallest recent Bitcoin purchase.
MSTR Shares Fall to Lowest Level Since February 2024
MSTR shares fell to about US$82, their lowest level since February 2024, while the company's STRC preferred stock dropped to a record low. The decline pushed Strategy's enterprise value below the value of its Bitcoin holdings for the first time, making future capital raising more difficult. Ripple CEO Brad Garlinghouse criticized the approach, and CryptoQuant urged Strategy to rebuild its cash reserves as dividend obligations have increased significantly.
FAQ
What is Strategy's current unrealized loss on Bitcoin holdings?
Strategy faces an estimated unrealized loss between US$13 billion and US$14 billion on its Bitcoin holdings as of June 22, with 847,363 BTC purchased at an average price of US$75,646 per coin currently valued at approximately US$50.8 billion against a total acquisition cost of around US$64.1 billion.
How much Bitcoin did Strategy purchase in its most recent acquisition?
Strategy acquired 520 BTC for about US$35 million in its most recent purchase while increasing its cash reserves by US$300 million to US$1.4 billion, representing the company's smallest recent Bitcoin purchase.
Why has Strategy's financing model faced criticism?
Strategy's financing model has drawn criticism from Ripple CEO Brad Garlinghouse and CryptoQuant as MSTR shares fell to approximately US$82 (lowest since February 2024), STRC preferred stock dropped to a record low, and the company's enterprise value fell below the value of its Bitcoin holdings for the first time, making future capital raising more difficult while dividend obligations have increased significantly.
