Accumulation strategy: Strategy acquired another 520 BTC for $34.9 million
Strategy has once again confirmed its reputation as the most consistent institutional accumulator of Bitcoin. Between June 15 and June 21, 2025, the corporate treasury department acquired 520 BTC for a total of approximately $34.9 million. The average purchase price, including all fees and associated expenses, was $67,068 per coin.
As of June 21, the company's total portfolio stands at 847,363 BTC. The market value of these assets is estimated at $64.1 billion. However, it is important to note that the average entry price across all positions is $75,651 per Bitcoin. This means the current portfolio is in a zone of unrealized loss compared to the average purchase price, highlighting Strategy's long-term investment horizon.
The financing for the latest batch of BTC was carried out through the issuance of MSTR class shares. Over the week, the company placed 2,714,839 shares, raising $335.5 million. This approach—using equity capital to purchase Bitcoin—remains a key element of the strategy, despite the potential dilution of existing shareholders' stakes.
Cryptalist Analytical Commentary: Strategy's actions are not merely an asset purchase but a demonstration of confidence in the long-term trend of the first cryptocurrency. Using the "ATM" (at-the-market offering) mechanism to raise capital for BTC purchases is a high-stakes game that requires nerves of steel. Given the average entry price of $75,000, the company is clearly betting that current levels are just a correction before a new all-time high. For retail investors, this is a signal: major players see Bitcoin as a strategic asset, not a speculative instrument.