MicroStrategy Buys 1,550 BTC, Adds $100M to Cash Reserve as Spot ETF Outflows Persist

MicroStrategy has resumed building its Bitcoin position after last week's surprise sale, co-founder Michael Saylor said in a post on X. Saylor reported the company purchased 1,550 BTC for about $101 million. The buy more than offsets the 32 BTC sold a week earlier, a rare move that briefly unsettled the market by breaking MicroStrategy's uninterrupted accumulation streak that began in late 2020. Following the latest purchase, MicroStrategy's Bitcoin holdings rose to a record 845,256 BTC. In his regular Sunday update, Saylor summarized the move as: "A good time to add more dots." CEO Phong Le echoed the stance, writing that the firm's corporate @Strategy is to increase net Bitcoin and Bitcoin per share over time, adding: "Rumors otherwise are just rumors." The company also increased its liquidity buffer. Saylor said MicroStrategy added $100 million to its USD reserve, a fund created last year to support dividend payments regardless of market swings, lifting the reserve to $1 billion. An 8-K filing with the SEC shows the Bitcoin purchase and the reserve increase were funded in part through sales of MSTR shares under the company's at-the-market (ATM) program. The filing notes the $100 million reserve expansion includes cash proceeds that have not yet settled. The update comes as U.S. spot Bitcoin ETFs continue to see withdrawals. Data from SoSoValue shows $1.72 billion in net redemptions last week, the fourth consecutive week of negative flows, alongside a pullback in BTC. At the time of writing, Bitcoin was trading near $63,400, down almost 12% over the past seven days. Bottom line: MicroStrategy is back in accumulation mode, increasing both its Bitcoin holdings and its cash reserve even as ETF outflows and market volatility weigh on prices.