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MicroStrategy only bought 245 BTC, the Bitcoin reserve strategy company's funding has surged and is being squeezed, why can't MSTR pump?
The pioneer of Bitcoin reserve strategies, MicroStrategy, announced the purchase of 245 Bitcoins at a price of approximately 26 million USD, bringing its total holdings to 592,345 Bitcoins. Yesterday, MSTR's stock price fell by 0.68%. Is the market dissatisfied with the amount it has bought, or is it the influx of many Bitcoin reserve strategy companies that gives investors more options, indirectly affecting MSTR's investment value? Its stock price's NAV Premium relative to Bitcoin value, also known as mNAV, has recently continued to hover below 2.
Strategy through preferred shares financing to buy Bitcoin
Strategy this time through issuance
8% Convertible Preferred Stock STRK raised 17.4 million USD
10% Preferred Stock STRF raised 8.7 million USD
A total of 26.1 million USD was raised, all of which was used to purchase Bitcoin. Strategy acquired 245 Bitcoins this time, with an average cost of 105,856 USD. As of June 22, 2025, Strategy holds a total of 592,345 Bitcoins, with a total cost of 41.8 billion USD and an average cost of 70,681 USD per Bitcoin.
Capital flows into other targets, NAV Premium hovers at a low point, is MSTR unable to rise?
As the pioneer of Bitcoin reserve strategies, Strategy co-founder Michael Saylor is a staunch believer in Bitcoin. He frequently promotes Bitcoin on various media platforms, referring to it as digital gold and the world's most scarce asset. This has attracted many companies to emulate his Bitcoin reserve strategy. Currently, 135 publicly listed companies globally, including mining firms, pharmaceutical companies, and advertisers, are buying Bitcoin to replace their cash reserves. Many companies have thus turned their fortunes around, with stock prices soaring several times over, and this number was only 78 at the beginning of the year, increasing by 70% in just a few months.
However, the influx of excessive funds into the market has provided investors with more choices, which seems to indirectly affect the investment value of MSTR. After reaching a historical high of 543 dollars in November last year, MSTR's stock price compared to the Bitcoin value indicator NAV Premium (Diluted) once soared to 3.89, but has recently continued to hover below 2, and despite multiple announcements to buy coins, the stock price has not shown significant momentum. Yesterday, it also fell by 0.68%, closing at 367.18 dollars.
In this article, MicroStrategy only bought 245 BTC, and the Bitcoin reserve strategy company is experiencing a surge in capital squeeze. Is MSTR unable to rise? First appeared in Chain News ABMedia.