Bitcoin broke a seven-consecutive-day losing streak on Sunday with its largest single-day gain since April 13, rising 4% and pushing above $63,000 — a level that has held through Monday as a combination of fresh institutional buying, a clarified Strategy capital structure, and renewed conviction from Ethereum treasury buyers provided support across a market that had been in freefall.
Strategy buys 1,550 BTC and refills its dollar reserve
Strategy acquired 1,550 Bitcoin for $101 million at an average price of approximately $65,161 per coin, raising its total treasury to 845,256 BTC, according to a Monday SEC filing. Simultaneously, the company grew its US dollar reserve by $100 million to a total of $1 billion.
The dollar reserve expansion is the most strategically significant element of Monday's disclosure. Last week's 32 BTC sale — which triggered crypto's worst weekly performance since July 2024 — was executed to fund the dividend obligation on Strategy's STRC perpetual preferred stock. The panic that followed was driven by fear that Bitcoin sales would become a recurring mechanism for funding those obligations. By refilling the dollar buffer to $1 billion, Strategy has materially reduced the probability of near-term Bitcoin sales — the reserve now sits between the preferred dividend obligations and the Bitcoin treasury, meaning dividends can be funded without touching BTC holdings as long as the buffer holds.
"Strategy is not the problem," 10x Research's Markus Thielen had argued earlier in the day — and Monday's filing provided concrete structural support for that view.
MSTR shares rose 4% on Monday. STRC climbed above $97, also gaining 4%.
Shareholders approve semi-monthly STRC dividends
Strategy shareholders approved Proposal 5 at the company's 2026 Annual Meeting, amending the STRC dividend schedule from monthly to semi-monthly payments. CEO Phong Le said the change is designed to improve liquidity, reduce price volatility, and increase investor demand by providing more frequent reinvestment opportunities.
The new schedule takes effect this month — the first record date is June 30, with a July 15 payment date. Going forward, record dates will fall on the 15th and last day of each month, with distributions paid on the following record date.
Strive buys 32 BTC — the exact number Strategy sold
In a move that was equal parts symbolic and substantive, Strive CEO Matt Cole disclosed Monday that the company purchased 32 Bitcoin for approximately $2.1 million at an average of $63,911. That is precisely the number of coins Strategy sold last week at $77,135 — the first Bitcoin disposal that sent shockwaves through crypto markets.
The buy adds to Strive's growing 19,000 BTC position, which has been built entirely without debt through its ASST and SATA at-the-market programs. The company has consistently positioned itself as the accumulation-only alternative to Strategy's more complex capital structure — and Monday's 32 BTC purchase sent that message with precision.
Bitcoin's seven-day losing streak: the second rarest in history
Bitcoin's seven consecutive daily declines from May 31 to June 6 — a drop from approximately $74,000 to below $60,000 — was among the rarest extended losing streaks in Bitcoin's history. The last comparable event was in June 2022, when Bitcoin recorded two separate seven-or-more-day losing streaks that drove it from $30,000 to below $19,000. Prior to 2022, such streaks had occurred only a handful of times across Bitcoin's entire trading history.
Sunday's reversal broke that streak with a 4% advance — and the gains have held through Monday's session near $63,400.
Strategy's capital trap: the stakeholder conflict beneath the surface
Not all Monday commentary was constructive. Ilan Solot, senior global markets strategist at Marex Solutions, offered a sobering structural analysis of Strategy's capital position. "Strategy is now a fight over the capital waterfall — every move protects one stakeholder by torching another," he said.
Solot laid out the hierarchy: in a crisis, debt holders are paid first, then preferred shareholders, then common equity holders, with Bitcoin holders — those who invested in MSTR as a leveraged Bitcoin bet — last in line. Every capital option available to Strategy damages someone. Selling Bitcoin hurts the core narrative and common shareholders. Issuing stock dilutes existing holders. Skipping preferred dividends torches yield-seeking STRC investors. Issuing more debt pushes everyone below it further from safety.
"The whole dance here is about who gets stuck with the loss," Solot said. Monday's dollar reserve expansion to $1 billion buys time and reduces near-term pressure — but it does not resolve the structural tension Solot described.
Bitmine buys $214 million in Ethereum — Tom Lee holds the line
Bitmine, the largest Ethereum-focused treasury firm led by Chairman Tom Lee, bought approximately 127,000 ETH worth $214 million during last week's weakness — the firm's largest weekly purchase of the year. Ethereum fell to as low as $1,500 over the weekend, its weakest level since April 2025, and is sitting on an estimated $9.6 billion in paper losses across Bitmine's 5.54 million ETH position.
Lee maintained his bullish stance despite the losses. "We increased our buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals. This is not surprising given we are in the early stages of crypto spring," he said.
Lee had previously called for ETH to bottom around $1,700 in February before a "crypto spring" recovery — a call that briefly looked accurate before Bitcoin and Ethereum took out their February lows last week. The weekend low of $1,500 pushed Ethereum into territory that invalidates the February bottom thesis, but Lee is doubling down rather than cutting exposure.
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