Strategy buys 520 Bitcoin for $35M, raises dollar reserve to $1.4B in single week

On Monday, Bitcoin whale Strategy (NASDAQ: MSTR) announced that it raised its USD reserve to $1.4 billion and bought 520 Bitcoin for $35 million, bringing its total BTC reserve to 847,363 coins.

The company’s update covers capital market activity from June 15 through June 21. Michael Saylor, the Bitcoin-loving executive chairman of Strategy, said:

“Strategy has increased its USD Reserve by $300 million to $1.4 billion and plans to continue replenishing it to support the credit quality of its Digital Credit securities. We also acquired 520 BTC for $35 million, increasing our $BTC Reserve to ₿847,363.”

Strategy is selling MSTR shares and keeping preferred stock programs

During the reported week, Strategy said it sold 2,714,839 shares of MSTR Class A common stock through its at-the-market offering program. The common stock sales brought in $335.5 million in net proceeds after sales commissions. That was the only completed sale listed in the company’s latest ATM update.

Strategy’s preferred stock programs stayed untouched for the period. The first is STRF – 10.00% Series A Perpetual Strife Preferred Stock, which had 0 shares issued with $1.6193 billion remaining in issuance capacity. The second one is STRC – Variable Rate Series A Perpetual Stretch Preferred Stock, which had 0 sales and still had $17.5108 billion in capacity left. STRK – 8.00% Series A Perpetual Strike Preferred Stock was at $2.1 billion capacity.

For preferred shares, the listed notional value means the total face value of shares sold, which is the number used for dividend calculations. For all ATM sales, net proceeds are shown after sales commissions. The MSTR common stock program had $25.411 billion left available as of June 21.

That MSTR figure includes capacity from the existing program and the extra $21 billion common stock offering that Strategy announced on March 23, 2026. The company said sales under that added authorization can start after the older capacity is almost used up. The pipeline is still huge, and the company has not run out of stock-selling room.

Bitcoin trades above $65,000 while ETF flows and SOPR data stay shaky

Strategy made the update while Bitcoin (BTC) traded above $65,000 for the first time in months. The price stabilized after U.S. and Iranian officials said they made “encouraging progress” during their first round of talks in Switzerland on Monday.

The broader Bitcoin market still had rough spots. U.S. spot Bitcoin exchange-traded funds posted their sixth straight week of net withdrawals. SoSoValue data showed $226.8 million left spot Bitcoin ETFs in the week ending June 18. Across six weeks, total outflows reached $5.94 billion, the longest weekly losing run for the products so far.

Weekly outflows dropped from $1.72 billion in the first week of June to a little above $226 million last week.

On-chain data could not provide a clear win for the bulls as well. Adjusted SOPR was hovering in the indecision area, with its 30-day moving average unable to rise back above 1. Whenever SOPR is above 1, it indicates that people are selling coins at a gain, while below 1 tells us about losses. The current situation demonstrates that buyers are still not able to absorb the selling pressure.

For any previous rally in Bitcoin, there was a signal that SOPR had broken above 1. Such a sign has not emerged yet. Besides, long-term holder SOPR has been declining, which means that old wallets have been making significantly fewer gains compared to previous cycle peaks.

If long-term holder SOPR keeps sliding toward its lower historical line, Bitcoin could sit closer to a deeper reset zone. Traders are watching the 30-day and 365-day adjusted SOPR averages.

In older cycles, the 30-day line crossing above the 365-day line often came before a fresh bullish leg or helped confirm that the cycle bottom was already behind the market.

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