According to the official announcement of the strategy, the company added 10,100 bitcoins last week. The move costs $1 billion and averages $104,080 per coin.
Bitcoin fell from $110,000 on June 9 to a low of $103,550 on June 12 after news of Israel’s strike on Iran’s nuclear website. The strategy now holds 592,100 BTC and buys for about $41.8 billion, with an average of $70,666.
Bitcoin holdings rise
The latest buy is the second strategy in June. According to the report, it has brought its total holdings to nearly 600,000 BTC. It’s a huge hiding place anyway. The company has spent more than $41 billion to date. It sees dipping sauce as an opportunity to buy more. The average cost per coin is much lower than the current market interest rate.
Preferred Stocks
The new Strd stock of the strategy began trading on Nasdaq on June 11. The move aims to raise $250 million in new cash. According to the company, it will issue 2.5 million shares of the permanent preferred shares of 10% Series A, at $100 per share. This cash should fund more Bitcoin purchases without mining cash reserves.
Revenue goals and progress
According to the strategy, its annual Bitcoin production is now 19.1%. That’s a 2% increase from 1,045 BTC purchases last Monday. The quarter to date yield is 7.5%. By December 31, 2025, the company has increased its target from 15% to 25%. In the middle of next year and a half, hits will require a strong price increase.
Widespread industry warnings
Saylor has been busy praising his peers on X. He congratulated Metaplanet on reaching 10,000 BTC. He mentioned the names of CEO Simon Gerovich and director Dylan Leclair. Meanwhile, Vaneck’s Matthew Sigel warned that if stock trading is close to net asset value, big companies’ bitcoin purchases can dilute value. The standards of the charter also marked the risk of volatility in early June.
The road ahead
If Bitcoin climbs and has more than six figures, the buying method of the strategy may pay off. The preferred inventory route can make it dry powder for more purchases. However, if you get a stall, the 10% dividend of Strd may be heavy.
Investors will closely monitor any changes in Bitcoin price fluctuations. Currently, the strategy is betting on volatility, an opportunity to build one of the largest companies in history’s Bitcoin treasury.
Featured images from Money Times, charts from TradingView
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