Bitcoin remained above the key $60,000 level on Saturday as investors monitored concerns surrounding Strategy Inc.’s Bitcoin acquisition strategy ahead of an important dividend adjustment for its preferred shares. The broader cryptocurrency market also recorded modest gains during weekend trading.
As of Saturday afternoon, Bitcoin was trading near $60,350, posting a gain of around 0.7% and maintaining support above the psychologically significant $60,000 price level.
Strategy’s Dividend Reset in Focus
Market participants are closely watching June 30, when Strategy’s STRC perpetual preferred shares begin trading ex-dividend and undergo their scheduled monthly dividend rate review.
Shareholders who own the preferred shares before the ex-dividend date will qualify for the first semi-monthly dividend payment of $0.48 per share, which is expected to be distributed on July 15.
Many investors believe the upcoming dividend adjustment could prove more important than the payment itself. STRC shares are currently trading near $73, well below their $100 face value, resulting in an effective yield of roughly 15%. This has fueled expectations that the company may increase its current 11.5% dividend rate to better match market conditions.
Financing Model Faces New Questions
The decline in STRC has renewed debate over Strategy’s method of raising capital to finance additional Bitcoin purchases.
Ripple CEO Brad Garlinghouse recently expressed continued optimism about Bitcoin’s long-term prospects while questioning Strategy’s reliance on issuing preferred shares to fund its growing cryptocurrency holdings.
According to Garlinghouse, the company’s financing structure resembles financial engineering rather than sustainable long-term value creation. He emphasized that his criticism targets the funding strategy rather than Bitcoin itself.
Large Bitcoin Holdings Under Pressure
Strategy currently owns approximately 844,000 Bitcoin, acquired at an average purchase price of around $75,600 per coin.
With Bitcoin trading near $60,000, the company’s unrealized losses are estimated to exceed $12 billion. The size of those paper losses is greater than the total market value of several well-known cryptocurrencies, including Dogecoin, Cardano, Chainlink, Litecoin, and Bitcoin Cash.
Despite the decline, opinions remain divided among market analysts.
Some believe Strategy should reduce the pace of future Bitcoin purchases and preserve additional cash while fundraising conditions remain challenging.
Others argue that the company’s long-term investment thesis remains intact and that future success will largely depend on Bitcoin’s performance rather than temporary weakness in its preferred shares.
Cryptocurrency Market Update
Most major cryptocurrencies traded within a narrow range during Saturday’s low-volume session.
- Bitcoin (BTC): +0.7% to around $60,350
- Ethereum (ETH): +0.5% to $1,583
- XRP: +1.2%
- BNB: -1.0%
- Solana (SOL): -0.8%
- Cardano (ADA): -1.0%
- Dogecoin (DOGE): -0.8%
- TRUMP Token: -1.8%
Investors will continue monitoring Bitcoin’s price action alongside Strategy’s upcoming dividend reset, which could influence sentiment toward both the company’s financing model and the broader cryptocurrency market in the weeks ahead.