On Sunday, June 29, Michael Saylor posted Strategy's Bitcoin acquisition tracker to X with the caption "We're gonna need more charts," his by-now-famous tell that a Monday 8-K and another purchase are coming. It arrived with Strategy roughly $13 billion underwater and Bitcoin trading below $60,000, its weakest level since October 2024.
Here's the catch the bullposting glosses over. In a June 29 filing, Strategy said it may sell up to $1.25 billion of Bitcoin through a new monetization program to bolster its cash reserve and fund preferred dividends and interest.
