Strategy Inc Cuts Bitcoin Purchases by Two-Thirds Amid Funding Machine Creaking

Strategy Inc, led by Michael Saylor, has significantly reduced its weekly Bitcoin purchases, buying only 520 BTC for $34.9 million in the week ended June 21. This is roughly two-thirds less than the prior week's 1,587 BTC.

The company raised $335.5 million from its common stock at-the-market offering program but used less than 11% of those proceeds to buy Bitcoin.

Strategy Inc has built a $1.4 billion USD Reserve for preferred stock dividends and debt interest as of June 21, which is in addition to the company's remaining ATM capacity of $25.4 billion.