In Bitcoin News today, Michael Saylor posted Strategy’s BTC acquisitions tracking chart up to
The message follows the same pattern that Saylor deployed before disclosing its purchases on June 7 and 21. If an 8-K filing Monday confirms a new acquisition, it would mark Strategy’s fourth consecutive week of buying, a conviction streak that is becoming increasingly difficult and more expensive to maintain.
Saylor Bullposting Strategy’s Bitcoin accumulation comes as BTC USD fell below $60,000 overnight, with the world’s largest digital asset currently down 1% on the day, with over $20.7 billion in daily trading volume.
We will need more graphics. pic.twitter.com/xVASOEnSw8
– Michael Saylor (@saylor) June 28, 2026
The numbers behind the challenge
Strategy holds 847,363 BTC at an average cost of approximately $75,646 per coin, according to the company’s June 22 disclosure. With bitcoin near $60,000, the market value of these holdings sits at around $50.8 billion, compared to a cost basis of around $64.1 billion, an unrealized loss. The block reached $14 billion as selling intensified.
The most recent confirmed Bitcoin purchase was a purchase of 520 BTC on June 22 for around $35 million, Strategy’s smallest recent tranche by far. The same week, the company added $300 million to its dollar reserve, bringing it to $1.4 billion.
On June 1, Strategy recorded its first BTC sale since 2022, selling off 32 BTC for around $2.5 million to cover a dividend payment before resuming weekly purchases.
Saylor has publicly called the put-call ratio asymmetric. In early May, he told interviewers that Strategy would buy “10 to 20” bitcoins for each coin sold, a posture that reads like calculated defiance when the position is so deep in the red.
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The Capital Stack is Cracking: What’s Next for $MSTR?
In other Bitcoin news today, MSTR stock fell to around $82 on Friday, its lowest close since February 2024, according to The Block’s crypto stock tracker.
More telling is what happened to preferred shares of STRC, Strategy’s variable-rate instrument designed to trade near its face value of $100, which hit a record low around $71 last week. STRC pays an annual dividend of 11.5%.
This combined decline pushed Strategy’s corporate mNAV, a metric comparing the company’s total market value, including debt and preferred stock, to the value of its bitcoin holdings, below 1 for the first time.
When mNAV falls below 1, the market values the company at a lower price than the BTC it holds, effectively stifling the stock issuance machine that Strategy used to fund the accumulation.
An analysis by Block Research found that MSTR common stock ranks as a leveraged residual behind about $6.7 billion in convertible debt and about $15.5 billion in perpetual preferred stock — a capital structure that leaves common shareholders last in line.
(SOURCE: Yahoo Finance)
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Bitcoin News Today: Circle of Critics as Saylor Reports
In other Bitcoin news today, Ripple CEO Brad Garlinghouse told CNBC on Friday that Saylor’s team “wasn’t focused on the right things,” arguing that the approach hurt the market as a whole and pointing to the STRC discount as evidence of a flawed financial engineering model. Garlinghouse said he remains bullish on Bitcoin, but argued that long-term value requires utility, not leverage.
Saylor’s response, characteristically, is another chart-topping item. The orange dot chart has become a reliable leading indicator that traders are now in the lead ahead of Monday’s 8-K filings.
Whether the confirmed purchase this week is another modest 520 BTC or something larger, the signal itself delivers a message: the accumulation strategy does not stop, regardless of paper losses, stock price or criticism.
The next concrete data point is 8-K itself: the size, funding source, and average price paid will tell the market whether the strategy is managing a controlled downturn or is actually doubling down at the worst entry point in its history.
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The post Saylor Prepares to Shoot MSTR Bears: Will Strategy Abandon Another BTC Buy? appeared first on 99Bitcoins.
