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Saylor's Strategy acquires 705 BTC for $75 million for 8th week in a row

Saylor's Strategy acquires 705 BTC for $75 million for 8th week in a row

Cryptobriefing2025/06/02 15:16
By:Cryptobriefing

Key Takeaways

  • Strategy has acquired 580,955 Bitcoin, amounting to nearly 3% of Bitcoin's total supply.
  • Institutional interest in Bitcoin treasury holdings is increasing, with over 70 entities now holding Bitcoin.

Michael Saylor’s Strategy announced Monday that the company had scooped up another 705 Bitcoin in its eighth straight week of purchases, bringing the total holdings to 580,955 BTC valued at over $60 billion.

Strategy’s latest buy took place in the week ending June 1, with an average acquisition cost of $106,495 per coin. With Bitcoin now trading above $104,000, the firm’s unrealized gains have climbed past $20 billion.

The company funded the acquisition through sales of various stocks between May 26 and June 1, including 353,511 STRK shares for around $36 million, and 374,968 STRF shares for around $38 million in net proceeds.

Saylor's Strategy acquires 705 BTC for $75 million for 8th week in a row image 0 Saylor's Strategy acquires 705 BTC for $75 million for 8th week in a row image 1

Bitcoin is down over 4% in the past seven days, TradingView data shows. The digital asset recently reached a record high of about $112,000 before declining amid bearish market factors, including stalled US-China trade talks, Trump’s proposed steel tariff increases, and ETF outflows.

Saylor's Strategy acquires 705 BTC for $75 million for 8th week in a row image 2 Saylor's Strategy acquires 705 BTC for $75 million for 8th week in a row image 3

Over the weekend, Saylor hinted at buying the Bitcoin dip with a post showing Strategy’s Bitcoin portfolio on Sunday with the caption “Orange is my preferred color,” a move that typically precedes purchase announcements.

“We’ll keep buying Bitcoin,” Saylor said in an interview with CNBC at Bitcoin 2025 in Las Vegas. “We think it will get exponentially harder to buy Bitcoin, but we will work exponentially more efficiently to buy Bitcoin.”

More institutions are following Strategy’s approach to Bitcoin treasury holdings. Over 70 entities now hold Bitcoin on their balance sheets, including the newly established Tether-backed Twenty One, Trump Media, and GameStop.

The market has had mixed reactions despite the movement’s momentum. After announcing their Bitcoin strategies, Trump Media and GameStop shares declined 20% and 17%, respectively.

“These are short-term dynamics. Over the long term, Bitcoin on the balance sheet has proven to be extraordinarily popular,” Saylor told CNBC.

Strategy’s stock (MSTR), despite recent volatility, has gained over 27% year-to-date, outperforming much of the SP 500, according to Yahoo Finance data .

MSTR was down slightly in pre-market trading on Monday.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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