Strategy purchased 4,603 Bitcoin for $369.7 million between Aug. 24 and Aug. 30, returning to accumulation after more than two months without a confirmed purchase.
MSTR Sales Funded the Entire Purchase
The Virginia-based company paid an average of $80,318 per Bitcoin, including fees and expenses, according to an Aug. 31 SEC filing. The acquisition increased Strategy's holdings from 840,447 BTC to 845,050 BTC. Strategy financed the entire acquisition through its at-the-market common-stock program, selling 4,531,421 MSTR shares during the week and generating $602.8 million in net proceeds. The company allocated $369.7 million to Bitcoin, $151.8 million toward repurchasing STRC preferred shares, $50.7 million to fund STRC dividends, and added $30 million to its unrestricted USD Cash account.
STRC Repurchases Continue Alongside Accumulation
Strategy repurchased 1,557,177 STRC shares for $151.8 million during the same week, at an average cost near $97.48 per share, below STRC's $100 stated amount. The company has used repurchases and a variable dividend to support STRC's market price, maintaining a 12% annualized dividend rate after the preferred stock traded below its stated amount. After the latest transaction, Strategy retained $364.8 million under its preferred-securities repurchase authorization.
Dollar Assets Reach $6.71 Billion
Strategy reported a $5.10 billion USD Reserve and $1.61 billion in USD Cash as of Aug. 30. Together, the two accounts held $6.71 billion. The board-designated reserve supports preferred-stock dividends and interest on outstanding debt, while USD Cash can be used for Bitcoin purchases, reserve expansion and other corporate needs. Saylor said the combined dollar assets brought Strategy's net leverage to 0.0%.
Purchase Exceeds Recent Sales
The acquisition followed several weeks in which Strategy prioritized liquidity and preferred-stock support. Strategy sold 1,638 BTC between July 27 and Aug. 2, then sold another 1,690 BTC the following week. The latest purchase exceeded those combined sales by 1,275 BTC, bringing Strategy's holdings to a new reported high. MSTR traded near $127.31 in premarket, approximately 7.4% below Friday's closing price.
