Strategy Resumes Bitcoin Purchases
Michael Saylor's Strategy has resumed its weekly Bitcoin purchases after a pause of more than two months, acquiring 4,603 BTC between Aug. 24 and Aug. 30 at an average price of $80,318 per token, according to an SEC filing. The purchase amounted to approximately $370 million, lifting the company's total holdings to 845,050 BTC.
The resumption follows a period in which Strategy had halted purchases and even sold some of its Bitcoin holdings. In late June, when Bitcoin was trading at $58,500 — a 53% drop from its all-time high — the company sold a portion of its holdings. Over the summer, it sold Bitcoin on three additional occasions, with total sales reaching roughly $544 million, as reported by Fortune.
Funding the Purchase
The latest acquisition was funded through Strategy's at-the-market common-stock program. The company raised approximately $602.8 million in net proceeds by selling 4,531,421 MSTR shares during the week, according to CryptoSlate. Of that amount, $369.7 million was used for the Bitcoin purchase.
The remaining proceeds were split among other uses: $151.8 million went to repurchasing 1,557,177 shares of its STRC preferred stock, $50.7 million was allocated to dividends, and $30 million was added to the company's USD Cash account, according to the filing.
Strategy's USD Cash account now stands at $1.61 billion, while its USD Reserve is approximately $5.1 billion, as reported by CoinGape and CryptoSlate.
Bitcoin's Rally
The purchase comes as Bitcoin has rebounded sharply. The cryptocurrency climbed above $80,000 for the first time since May during the week of the purchase, according to International Business Times. After a prolonged bear market, Bitcoin jumped more than 23% in a single day on Aug. 21, reclaiming $79,000 for the first time since May, according to crypto data aggregator CoinGecko, as cited by Fortune.
Bitcoin rose roughly 28% in August, its strongest monthly gain since November 2024, per Reuters, as reported by International Business Times.
Strategy's Holdings and Financial Position
With the latest purchase, Strategy's aggregate cost for its total Bitcoin holdings is $63.73 billion, at an average cost of $75,412 per BTC, according to the SEC filing. The company holds approximately 4% of the total Bitcoin supply.
In its Aug. 24 filing, Strategy reported no Bitcoin purchases or sales during the prior weekly period. The Aug. 31 filing then reported the 4,603 BTC purchase. The company sold no preferred shares through its at-the-market programs during the latest period.
MSTR shares are currently trading at around $128, up less than 1%, according to CoinGape. The shares have fallen more than 60% over the past year, as reported by Fortune.
STRC Preferred Stock
Strategy introduced STRC, a dividend-paying preferred share class, in July 2025. The company has been using proceeds from common-stock sales to support the preferred stock through buybacks and dividends. In the latest week, it repurchased approximately 1.56 million STRC shares for $151.8 million and paid $50.7 million in dividends, according to the SEC filing.
After the buyback, $364.8 million remained available under its preferred-stock repurchase program, as reported by CryptoSlate.
Outlook
The resumption of Bitcoin purchases signals a shift in Strategy's approach after a period of financial strain. The company had previously moved away from its "never sell your Bitcoin" posture during the downturn, but the recent rally has pushed the value of its holdings back above what it paid for them, according to Fortune.
Strategy's financing model, historically funded through sales of new shares and borrowed money, came under pressure as Bitcoin's value fell. The company has since sought new ways to fund its approach, including the introduction of STRC.