Strive and Strategy buy $105 million in Bitcoin as corporate push continues

Strategy bought 1,587 Bitcoin for $100 million last week, and Strive added 73 BTC worth $4.7 million, as corporate treasury accumulation continued despite market weakness.

"Strive is committed to an aggressive Bitcoin acquisition strategy," Chief Executive Officer Matt Cole said on June 10, as the firm disclosed its latest purchase at an average price of $63,646 per coin.

Strategy's purchase, executed between June 8 and June 14 at an average of $63,024 per Bitcoin, lifted its total holdings to 846,842 BTC acquired for $64.07 billion. The company funded the acquisition entirely through at-the-market sales of Class A common stock, raising $209 million from 1.73 million shares, according to an SEC filing Monday. Strategy still has $25.75 billion in remaining MSTR issuance capacity.

The buying comes as Bitcoin trades near $66,000, roughly 48% below its October 2025 record of $126,198, and as the Fear and Greed Index reads 18 — deep in extreme fear territory. The persistence of corporate purchases at these levels suggests treasury managers see current prices as a discount, but the pace has slowed sharply from the multibillion-dollar buys earlier this year, raising questions about how long the strategy can sustain itself if weakness persists.

Buying Pace Slows as Preferred Funding Channel Narrows

Strategy's latest purchase marks its second consecutive week of roughly $100 million in acquisitions, down sharply from the multibillion-dollar pace set earlier in 2026. The slowdown reflects strain on the company's preferred stock program. Strategy issues its Stretch preferred stock (STRC) only when it trades at or above its $100 par value, and STRC has recently slipped below that level, narrowing the channel it typically uses to fund Bitcoin purchases.

At last week's annual shareholder meeting, investors approved shifting STRC dividend payments from monthly to twice monthly — a move President and Chief Executive Officer Phong Le said was designed to "stabilize price, dampen cyclicality, drive liquidity, and grow demand for STRC."

The company's USD Reserve rose to $1.1 billion as of June 14, up from $1 billion the prior week. JPMorgan analysts had flagged the reserve last week after Strategy's rare sale of 32 Bitcoin on June 1, noting the company needed to rebuild the dollar cushion to restore confidence. At the time, the buffer covered about 6.3 months of dividend obligations.

Treasury Firms Brace for a Tougher Market

While Strategy's buying has slowed, other Bitcoin treasury companies continue to add to their holdings. Strive, Inc. acquired 73 Bitcoin for approximately $4.7 million last week, bringing its total to an undisclosed amount. The firm's CEO, Matt Cole, has publicly committed to an aggressive acquisition strategy, positioning Bitcoin as a core corporate reserve asset.

But the broader outlook for treasury firms is growing more cautious. Speaking at BTC Prague on Friday, Strive CEO Ben Werkman warned that an extended period of Bitcoin weakness could pressure companies that relied heavily on convertible debt financing, potentially forcing some to restructure, merge, sell assets, or liquidate Bitcoin holdings. He pointed to Strive's acquisition of Semler Scientific as an example of the consolidation that could emerge across the sector if market conditions remain challenging.

The warning echoes concerns raised by Glassnode analysts, who noted that corporate treasury accumulation has slowed sharply, with net inflows falling from peaks above $500 million per day to near-zero levels since June. ETF flows have also turned negative, with US spot Bitcoin ETFs recording a five-week outflow streak totaling more than $5 billion, according to SoSoValue data.

For Bitcoin, the combination of slower corporate buying and persistent ETF outflows removes two of the market's most reliable sources of demand at a time when the asset is struggling to hold above $60,000. Strategy retains substantial capacity to keep buying — with $25.75 billion in remaining MSTR issuance and $1.1 billion in its USD Reserve — but the transmission belt from capital markets to Bitcoin purchases is running at a fraction of its earlier speed.

This article is for informational purposes only and does not constitute investment advice.