Strategy did not make any Bitcoin transactions in the week ending August 16, maintaining its holdings at 840,447 BTC with an average purchase price of $75,385. This pause marks the end of several consecutive weeks of Bitcoin disposals that had previously funded the company’s buybacks and preferred dividends since June.
Share Sale Boosts Dollar Reserve
Instead of selling Bitcoin, Strategy raised $333.7 million through the sale of 3,458,866 MSTR shares at an average price of $96.48 per share. This figure represented a decrease compared to the previous week, when shares averaged $99.17 each.
The company directed the proceeds from this equity sale into three main activities. It allocated $52.4 million to pay dividends on STRC preferred stock, used $132.2 million to repurchase the same preferred stock, and moved $149.1 million into its dollar reserve. The dollar reserve has now climbed to $4.8 billion, up from $4.65 billion a week earlier.
Strategy’s recent buyback captured 1,388,720 STRC shares, leaving $653 million available under its Digital Credit Securities Repurchase Program, which was launched on June 29 with a $1 billion limit. Meanwhile, a separate $1 billion repurchase authorization for MSTR stock has yet to be used.
No Bitcoin Purchases Amid Capital Framework
There have been no Bitcoin acquisitions by Strategy since June. The firm introduced a capital framework earlier this summer that allows it to sell up to $1.25 billion of Bitcoin, using the proceeds to fund dividends, buybacks, interest, and to add to its cash reserve. So far, $429 million of this allocation has been used, leaving approximately $820 million, with no new Bitcoin sold last week.
Strategy executed its first Bitcoin disposal since 2022 in May, selling 32 BTC. It has since sold a total of 6,948 BTC, generating around $432.5 million. The most recent sale was last week, when 1,690 BTC were sold for $108.6 million to finance STRC preferred stock buybacks. This week, however, the company relied entirely on proceeds from the MSTR share issuance for similar activities.
Market Value and Industry Trends
As of Monday, Bitcoin’s price hovered around $63,500. The current market value of Strategy’s Bitcoin treasury is approximately $53.4 billion, against an aggregate purchase cost of $63.36 billion. This represents a shortfall of nearly $9.9 billion.
Strategy increased its USD reserve by $150 million and repurchased $132 million of STRC, extending its USD duration by 41 days to 2.8 years and tightening STRC’s BTC credit by 4 basis points to 114 basis points.
While closely monitoring movements in Bitcoin and BTC reserves, institutional investors are increasingly seeking new ways to interact with both traditional and digital assets. While traditional markets rely on complex brokers, a massive shift is happening: Wall Street is moving to Web3. Investors are now using platforms like 1stepSwap to hold shares of major U.S. companies, gold, and silver directly in their crypto wallets. By tokenizing Real-World Assets (RWAs) and automatically finding the best market prices in seconds, it completely removes the middlemen.
