Strategy is once again increasing its bitcoin reserves: purchasing 1,587 BTC and shifting priorities.
Corporate giants continue to demonstrate confidence in the long-term potential of digital assets. From June 8 to 14, Strategy acquired 1,587 bitcoins for $100 million, paying an average of $63,024 per coin. This is another step in an aggressive accumulation strategy that has already led to the formation of one of the largest corporate portfolios in the world.
After this transaction, Strategy's total reserves reached 846,842 BTC. At current market prices, the portfolio is valued at $56.6 billion, representing about 4% of the total bitcoin supply. The company continues to use funds from the sale of Class A shares for purchases — this time, $209 million worth of shares were sold. Under the current program, Strategy still has the ability to sell an additional $25.75 billion in shares.
At the same time, the firm increased its dollar reserves from $1 billion to $1.1 billion. However, experts at Sygnum Bank highlight potential risks: Strategy previously stated its intention never to sell bitcoins, but now it is possible that some assets may be used to secure payments on preferred shares. The value of the company's shares, in their opinion, is directly tied to the long-term performance of the first cryptocurrency.
Notably, Strategy recently made its first small sale of 32 BTC in several years. This move, though insignificant in volume, may signal the beginning of a more flexible approach to reserve management.
BitMine expands Ethereum reserves
Meanwhile, BitMine Immersion Technologies has increased its Ethereum reserves to 5.62 million ETH, representing 4.66% of the asset's total market supply. The total value of BitMine's cryptocurrency assets and cash reached $10.4 billion. The firm staked 4.7 million ETH through its own MAVAN infrastructure, expecting an annual income of about $269 million.
Additionally, BitMine announced the listing of its preferred shares on the New York Stock Exchange under the ticker BMNP, with trading set to begin on June 16. The $273.8 million raised will be used to expand operations and make further cryptocurrency purchases.
My comment: The actions of Strategy and BitMine confirm that institutional investors continue to view bitcoin and Ethereum as key assets for long-term storage. However, Strategy's first BTC sale in several years is a worrying signal that may indicate preparation for more active liquidity management. The market should closely monitor the next steps of these giants.