Catenaa, Tuesday, June 09, 2026- Michael Saylor’s Strategy has resumed accumulating Bitcoin, purchasing an additional 1,550 BTC for approximately $101.3 million just days after the company’s first Bitcoin sale in nearly four years unsettled cryptocurrency markets.
This come in the wake of JPMorgan warning that Michael Saylor’s Strategy may need to rebuild its U.S. dollar reserves to restore investor confidence after its first Bitcoin sale since 2022, a move that unsettled markets despite being described as a symbolic transaction to support preferred-share obligations.
The bank noted that Strategy’s cash reserves currently cover only about 6.3 months of dividend payments, raising concerns that additional Bitcoin sales may eventually be needed if market conditions remain weak.
Despite these concerns, Strategy continues to aggressively accumulate Bitcoin, recently increasing its holdings to 845,256 BTC, more than 4% of Bitcoin’s total supply, although the position currently carries an estimated paper loss exceeding $10 billion.
JPMorgan expects the company to continue buying Bitcoin and potentially acquire as much as $32 billion worth during 2026.
Strategy’s BTC acquisition, disclosed in a filing with the US Securities and Exchange Commission, increases Strategy’s total Bitcoin holdings to 845,256 BTC, reinforcing its position as the world’s largest corporate holder of the cryptocurrency.
The latest purchase was made between June 1 and June 7 at an average price of $65,332 per Bitcoin.
The move follows widespread market debate triggered by Strategy’s sale of 32 BTC at the end of May, which some investors viewed as a sign that even the most committed corporate Bitcoin buyer might be altering its long-term strategy.
Instead, the latest purchase suggests the company remains committed to expanding its Bitcoin treasury despite recent market volatility.
Strategy’s Bitcoin stockpile is now valued at approximately $53.5 billion based on current market prices.
The company has spent roughly $64 billion acquiring its holdings, including fees and related expenses, resulting in an average acquisition cost of $75,680 per Bitcoin.
At current market prices, the position represents an unrealized paper loss of approximately $10.5 billion.
Even so, the company’s holdings now account for more than 4% of Bitcoin’s maximum supply of 21 million coins.
No other publicly traded company comes close to matching Strategy’s exposure to the cryptocurrency.
Investor concerns intensified earlier this month after Strategy disclosed it had sold 32 BTC for approximately $2.5 million.
The transaction marked the firm’s first Bitcoin sale since late 2022.
Although the amount represented a tiny fraction of its overall holdings, the announcement contributed to market anxiety during an already fragile period for digital assets.
Bitcoin subsequently fell from around $73,700 to below $60,000 before recovering over the weekend.
The company said proceeds from the sale were used to fund dividend obligations associated with its STRC preferred stock program.
The latest Bitcoin acquisition was financed primarily through sales of Strategy’s Class A common shares.
During the week, the company sold approximately 1.4 million MSTR shares, generating about $181 million in proceeds.
Strategy continues to maintain substantial fundraising capacity.
The company reported that nearly $26 billion remains available under its existing equity issuance program.
Additional capital raising options include preferred stock offerings linked to both STRC and STRK securities.
The firm’s cash reserve also increased to approximately $1 billion, up from $900 million reported the previous week.
Market observers remain split over Strategy’s position.
JPMorgan analysts recently argued that the company’s decision to sell Bitcoin had unsettled investors and highlighted concerns regarding cash reserves and dividend coverage.
Some analysts believe Strategy’s ability to continue accumulating Bitcoin could become constrained if its share price remains under pressure.
Others remain optimistic.
Bernstein analysts said the company’s liquidity position remains strong and argued that dividend commitments are adequately supported by cash reserves, equity issuance capacity and, if necessary, Bitcoin holdings.
Strategy remains the dominant player among a growing group of corporate Bitcoin treasury companies.
According to industry data, nearly 200 publicly traded companies have adopted some form of Bitcoin accumulation strategy.
Major holders include Metaplanet, MARA Holdings, Twenty One, Bullish, Strive, Coinbase, Riot Platforms and CleanSpark.
Together, these firms now control hundreds of thousands of Bitcoin.
However, many treasury-focused companies have struggled in 2026 as falling cryptocurrency prices reduced the value of their holdings and compressed market premiums.
The latest purchase is likely to reassure investors who questioned whether Strategy was beginning to reduce its Bitcoin exposure.
Executive Chairman Michael Saylor has repeatedly emphasized his belief in Bitcoin as a long-term treasury asset and recently described current market prices as attractive buying opportunities.
The purchase also reinforces Strategy’s influence over the broader cryptocurrency market.
Because of the scale of its holdings and acquisitions, the company’s actions are closely watched by institutional investors and often influence sentiment across the digital asset sector.
For now, Strategy appears committed to expanding its Bitcoin position despite market weakness, continuing a strategy that has reshaped corporate participation in cryptocurrency markets over the past several years.
