Strategy bought an additional 1,550 bitcoin from June 1 to 7, resuming purchases of the cryptocurrency.

According to blockchain media outlet CoinPost, Strategy bought the coins for about $100 million, at an average purchase price of about $65,332 per bitcoin.

The purchase lifted Strategy's total bitcoin holdings to 845,256. The company sold 32 bitcoin in late May, raising about $2.5 million. It was the first bitcoin sale since December 2022, and the market took it as a symbolic change. Still, since the sale was extremely small compared with its total holdings, the company immediately continued its net buying stance.

It funded the purchase from $181 million secured by selling 1,409,600 shares of its Class A common stock, MSTR. There were no sales of preferred shares STRF, STRC, STRK and STRD over the same period. The company had planned to use the proceeds from the earlier sale to pay preferred dividends.

The market offered various interpretations of the reasons behind the 32-bitcoin sale. Michael Saylor (마이클 세일러), the chairman, said in an earlier interview, "If the market concludes Strategy never sells the bitcoin it holds, credit rating agencies may not view it as an asset." He has also said that even if it sells some bitcoin, it would maintain its status as a net buyer with overall purchases exceeding sales.

The comments also aligned with the recent trading flow. After disposing of 32 bitcoin, the company immediately bought 1,550 bitcoin, reaffirming its policy of expanding net holdings. Given that it held 843,706 bitcoin as of May 31, the recent sale was not at a level that would change its overall strategy.

Some in the industry are linking the latest moves to index inclusion. Luigi Donorio DeMeo (루이지 도노리오 데메오) of DeFi protocol Aave raised the possibility that the 32-bitcoin sale in late May may have been a "psychological operation" to meet index inclusion requirements, after Saylor posted a chart on X on the 7th suggesting additional purchases. Strategy has a track record of not being included in the S&P 500 index despite meeting conditions such as market capitalisation and liquidity.

With the company moving back to buying bitcoin, market attention is focusing on two points. One is whether Strategy will continue to increase its bitcoin holdings by selling common stock going forward. The other is whether the recent limited sale was simply to secure dividend funds, or a step to respond to external requirements such as index inclusion.

The trend confirmed so far is clear. Strategy is maintaining its policy of increasing net bitcoin holdings despite the recent temporary sale. Saylor's net-buyer stance was confirmed in figures once again through the repurchase of 1,550 bitcoin.