Strategy increases reserves: purchase of 1587 BTC and growth of dollar cushion to $1.1 billion
Strategy continues to aggressively expand its bitcoin reserves. From June 8 to June 14, the company acquired 1,587 BTC for $100 million, paying an average of $63,024 per coin. The deal was financed through the sale of Class A shares worth $209 million, which not only replenished crypto assets but also increased dollar reserves from $1 billion to $1.1 billion.
As of now, the total volume of bitcoins on Strategy's balance sheet has reached 846,842 BTC. The market value of the portfolio is estimated at $56.6 billion, accounting for about 4% of the total supply of the first cryptocurrency. The company maintains a significant safety margin: under its current program, it still has the ability to sell shares worth an additional $25.75 billion.
Risks of Strategy Shift and Market Signals
However, the situation is not entirely straightforward. Experts at Sygnum Bank point to potential risks: Strategy previously promised not to sell bitcoins, but the recent disclosure of a sale of 32 BTC — the first in several years — may indicate a policy shift. Analysts warn that the value of the company's securities now directly depends on bitcoin's long-term performance, and any deviation from the "hold strategy" could undermine investor confidence.
In my opinion, this move is more of a liquidity test than a trend reversal. Strategy is demonstrating flexibility by using shares as a tool to build up both crypto and fiat reserves. This is a sensible diversification in volatile conditions.
BitMine: Bet on Ethereum and NYSE Listing
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 the firm's cryptocurrency assets and cash reached $10.4 billion. BitMine has staked 4.7 million ETH through its own MAVAN infrastructure, expecting an annual income of about $269 million.
Additionally, the company announced the listing of its preferred shares on the NYSE under the ticker BMNP starting June 16. The proceeds of $273.8 million will be used to expand operations and purchase cryptocurrency.
My analysis: Both cases — Strategy and BitMine — show that institutional players continue to accumulate digital assets despite market fluctuations. However, Strategy's sale of bitcoins after a long hiatus is a warning sign that may indicate preparation for more active portfolio management. The market should closely monitor the company's next steps.