Investing.com — traded above $60,000 on Saturday as investors weighed mounting concerns over Strategy Inc () Bitcoin accumulation strategy ahead of a key dividend reset, while the cryptocurrency remained under pressure after falling sharply from recent highs.
Bitcoin was trading up 0.40% at $60,240.5 as of 04:37 ET (08:37 GMT). Much of the market’s attention is focused on June 30, when Strategy’s perpetual preferred shares will trade ex-dividend and undergo their monthly dividend rate reset.
Investors who own the shares before the ex-dividend date will receive the first semi-monthly dividend payment of $0.48 per share on July 15.
The dividend reset is viewed as the more significant event. STRC is currently trading near $73, about 27% below its $100 par value, pushing its effective yield to roughly 15%. Some investors expect Strategy to raise the dividend rate from its current 11.5% to better reflect market pricing.
The weakness in STRC has also renewed debate over Strategy’s capital-raising model. Ripple Chief Executive Brad Garlinghouse said in a CNBC interview that he remains bullish on Bitcoin but argued that the company’s reliance on preferred stock issuance to fund additional Bitcoin purchases has weighed on the broader cryptocurrency market.
Garlinghouse described the approach as financial engineering rather than long-term value creation, pointing to STRC’s decline below par value as evidence that investor confidence in the funding model has weakened. He stressed that his criticism was directed at the financing strategy rather than Bitcoin itself.
Strategy has accumulated about 844,000 Bitcoin at an average purchase price of roughly $75,600 per coin. With Bitcoin trading near $60,240, the company’s unrealized losses have exceeded $13 billion, according to data from BitcoinTreasuries.
The paper loss is larger than the entire market capitalization of several well-known cryptocurrencies, including , , Chainlink, Litecoin, and Bitcoin Cash, highlighting the scale of Strategy’s leveraged exposure to the world’s largest cryptocurrency.
Some analysts have questioned whether the company should temporarily slow its Bitcoin purchases and strengthen its cash position as lower preferred share prices make raising fresh capital more difficult.
Others argue the financing model remains intact despite becoming less efficient, maintaining that long-term performance will ultimately depend on Bitcoin’s price recovery rather than short-term fluctuations in the preferred shares.
Bitcoin remains relatively stable around the $60,000 level as traders assess macroeconomic conditions, institutional demand, and developments surrounding major corporate holders such as Strategy.
Crypto price today: altcoins surge higher amid thin Saturday trading
Broader crypto prices also surged higher despite thin trading volumes on Saturday.
World no.2 crypto Ether rose 1.50% to $1,580.66.
BNB was up 0.67%, while XRP gained 2.43%.
Solana and Cardano surged 5.63% and 4.15%, respectively.
Among memecoins, Dogecoin inched 1.43% higher, while $TRUMP climbed 2.92%.
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