Strategy Inc. (NASDAQ:MSTR) bought 1,550 Bitcoin (CRYPTO: BTC) for $101 million at an average price of $65,332, its first purchase since selling 32 coins at $77,135 last week.

Strategy Bought Below Its Own Average Cost For The First Time

The 1,550 Bitcoin purchase brings total holdings to 845,256 BTC acquired for just under $64 billion at an average of $75,680 per coin. 

The latest buy came in $10,000 below that average, meaning Strategy lowered its cost basis for the first time since beginning its accumulation strategy.

To fund the purchase and rebuild its cash position simultaneously, Strategy issued $181 million of common stock. 

The company also increased its USD reserve by $100 million, bringing total cash reserves to $1 billion, directly addressing the liquidity concerns Peter Schiff and others raised after the reserve dipped to $871 million following the convertible debt repurchase.

Michael Saylor posted on X Sunday with a Bitcoin tracker image captioned “A good time to add more dots,” telegraphing the purchase before Monday’s official announcement. Bitcoin was briefly below $60,000 last week before recovering above $62,000.

MSTR CEO Sold $11M In Stock At $114 To $125 During Bitcoin’s Worst Week

On June 5, Strategy President and CEO Phong Le filed paperwork for the sale of 93,738 MSTR Class A shares at prices ranging from $114.79 to $125.14 per share, generating approximately $11.1 million in proceeds. 

The sale occurred while Bitcoin hovered just above $60,000 during its sharpest weekly decline in months.

MSTR Bouncing Off Long-Term Trendline Despite Nasdaq Down 4.77%

MSTR crashed 6.90% to $120.44 on Friday before snapping back 6% in pre-market Monday, fueled by the Bitcoin purchase announcement. 

The stock sits directly on the long-term rising trendline that held during February’s lows, with the full EMA stack overhead between $152.07 and $195.31. 

Notably, MSTR is bouncing pre-market despite the Nasdaq falling 4.77%, suggesting the Bitcoin accumulation narrative is carrying the stock against broader market weakness.

Holding above $120 and opening above $128 confirms trendline defence, targeting $140 then $152.07.

Losing $120 on the open removes the last support structure and opens a flush toward $110 then $100.

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