Strategy, a major Bitcoin treasury company, resumed its Bitcoin acquisitions, purchasing 4,603 BTC for $369.7 million between August 24 and 30. This marks the firm’s first notable Bitcoin purchase in nearly two months, according to data reported in a recent securities filing.
Stock issuance funds major Bitcoin purchase
The company financed its Bitcoin purchase by selling 4,531,421 MSTR shares through its at-the-market program. This stock issuance raised $602.8 million net of commissions, providing sufficient capital for Strategy’s new round of crypto investments.
Approximately $369.7 million of the raised funds were used to buy Bitcoin, while $151.8 million supported the buyback of STRC preferred shares. An additional $50.7 million was allocated to cover dividends on the preferred stock, and $30 million was held in USD Cash.
Strategy reported, “Strategy has acquired 4,603 BTC for $370M, increased USD Cash by $29M, and repurchased $152M of $STRC. As of 8/30/26, we hold 845,050 bitcoin:native and $6.71B of USD Assets, bringing Net Leverage to 0.0%.”
Details on Bitcoin holdings and recent sales
Following the latest acquisition, Strategy now holds a total of 845,050 BTC, purchased for an aggregate $63.73 billion at an average price of $75,412 per coin. The recent transaction raised the average purchase price, as the latest batch was acquired at $80,318 per BTC.
Earlier in the summer, the company took a different approach, selling 6,948 BTC for about $432.5 million between May and August. These Bitcoin sales averaged around $62,250 each, meaning the subsequent buy-in represented a price increase of roughly 29%. The company now holds 2,345 fewer BTC than before the round of selling but retained $63 million in cash from the transactions.
| Event | Amount | BTC Price |
|---|---|---|
| BTC sold (May-Aug) | 6,948 BTC | $62,250 |
| BTC bought (Aug 24–30) | 4,603 BTC | $80,318 |
Funding routes and company strategy
When STRC dropped below its $100 par value in June, an important funding mechanism for Bitcoin purchases was cut off for Strategy. At that point, the company created a Digital Credit Capital Framework, authorizing up to $1.25 billion worth of Bitcoin sales to finance dividends and buy back preferred shares at a discount. The firm resumed Bitcoin purchases after MSTR shares recovered, making equity financing more attractive.
STRC refers to the company’s preferred stock, which it can repurchase to reduce dividend obligations or realize a discount. MSTR is the company’s publicly traded common stock ticker.
Mini dictionary: STRC, Strategy’s preferred stock, offers fixed dividends and can be repurchased at a predetermined price, often used to manage capital allocation and dividend obligations.
Asset reserves and leverage position
Strategy reported that its dollar reserves continue to expand. As of August 30, its USD Reserve, dedicated to servicing preferred dividends and debt interest, reached $5.10 billion, while its unrestricted USD Cash account stood at $1.61 billion. Together, these reserves total $6.71 billion, resulting in an overall net leverage of 0.0%, according to the company.
During the same week, the company also repurchased 1,557,177 STRC shares at a cost of $151.8 million, leaving $364.8 million of its $1 billion digital credit repurchase authorization available. In addition, a separate $1 billion authorization remains intact for repurchasing MSTR stock.
Strategy stated that the combined value of its Bitcoin and dollar assets positions the company with zero net leverage.
