Despite the STRC Crisis, Saylor Prepares a New Bitcoin Purchase

Michael Saylor has just broken a three-week silence by suggesting a new massive bitcoin acquisition. This announcement comes at the very moment when his key financing vehicle, the STRC preferred share, is experiencing a historic drop below its nominal value.

Michael Saylor reignites speculation around bitcoin

On June 21, 2026, the executive chairman of Strategy publishes on X the famous orange chart of the company’s bitcoin acquisitions accompanied by a blunt comment:

For crypto analysts, this type of posting is no coincidence. Indeed, similar messages always precede the official announcement of new BTC purchases. This new signal could therefore announce an imminent new operation.

For now, Strategy holds more than 846,000 bitcoins. Making it by far the largest institutional holder of BTC in the world.

The timing intrigues: Strategy at the heart of a financing crisis

According to data, the value of STRC has collapsed below $89 in recent days. This drop automatically triggers an increase in the dividend rate paid to shareholders. This increases Strategy’s annual costs by about 53 million dollars.

Result: bitcoin purchases via the STRC are believed to have been suspended in June. The situation even led Strategy to sell 32 bitcoins to finance certain obligations related to its preferred shares. An unusual decision for a company historically committed to holding its BTC!

At the same time, Strategy’s mNAV (multiple of net asset value) fell to 1. According to the company’s own policy, this level means it would not be appropriate to issue new MSTR shares to raise funds.

Saylor is no stranger to showing calm under pressure

In 2022, Strategy held about 130,000 BTC valued at 2.6 billion dollars when the bitcoin price was around $20,000. Debt thus exceeded assets and the stock had dropped by more than 45%. Yet Strategy had not sold.

A few days before this new signal, the company had again acquired the equivalent of 100 million dollars in bitcoin. This marked a third consecutive week of accumulation.

Saylor also defended the balance sheet strength: the BTC and cash reserves would now equal total debt of about 48 billion dollars, with over 60 billion capital raised since 2022.

Michael Saylor thus does not seem willing to change course. For crypto investors, one question remains: how far can Strategy continue this bitcoin accumulation strategy without jeopardizing the financial balance of its ecosystem? The answer could come very soon.