Strategy · Bitcoin · Michael Saylor · SEC · CryptoSlate
Strategy picked up $100 million more Bitcoin but critics say MSTR shareholders now own less of it
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Strategy (formerly MicroStrategy) added another $100 million of Bitcoin to its balance sheet last week, extending a buying campaign that has made the company the world’s largest corporate holder of the digital asset while sharpening a debate over what its common shareholders own.
Key facts
- On June 15, Michael Saylor, the company's chairman, said Strategy bought 1,587 BTC at an average price of $63,024 per token, which lifted its total holdings to 846,842 BTC
- By Livingston’s calculation, the 1,587 BTC purchase and roughly $100 million reserve increase added about 3,146 BTC-equivalent to the common residual
- Strategy’s BTC Yield, which tracks the change in Bitcoin holdings per assumed diluted share, slipped from 13.0% on June 1 to 12.8% on June 8
- The company said it sold 1.7 million MSTR shares last week for about $209 million
Summary
01 Strategy bought 1,587 BTC for about $100 million, bringing its total holdings to 846,842 bitcoin. 02 The purchase grew Strategy’s Bitcoin stack, but BTC Yield fell to 12.5% after it sold 1.7 million MSTR shares. 03 Critics call that dilution, while Saylor says cash reserves and senior claims can still make common equity accretive. On June 15, Michael Saylor, the company's chairman, said Strategy bought 1,587 BTC at an average price of $63,024 per token, which lifted its total holdings to 846,842 BTC.