Strategy buys $370 million in Bitcoin after two months without purchases

Strategy has resumed buying Bitcoin after spending part of the northern hemisphere summer selling the cryptocurrency to shore up its liquidity. The company acquired 4,603 BTC for $369.7 million in the week ending 30 August, paying an average price of $80,318 per unit, according to a filing submitted to the SEC on Monday (31).

With the new purchase, the company led by Michael Saylor now holds 845,050 BTC, bought for approximately $63.73 billion, at an average price of $75,412 per Bitcoin. The company remains the largest corporate BTC treasury in the world.

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%. $MSTRhttps://t.co/yncvo2BVSH

— Strategy (@Strategy) August 31, 2026

The purchase was funded through the issuance of Strategy's own shares. During the period, the company sold 4.53 million MSTR shares through its at-the-market offering programme, raising around $602.8 million net.

Of the total raised, $369.7 million went towards buying Bitcoin. A further $151.8 million was used to repurchase STRC preferred shares, $50.7 million went towards dividend payments on those shares, and around $30 million was added to the company's cash reserve.

Strategy sold Bitcoin cheaper and bought back 29% higher

The resumption of purchases draws attention because it comes just a few months after Strategy sold part of its reserves.

Between May and August, the company disposed of 6,948 BTC for approximately $432.5 million, equivalent to an average price close to $62,250 per unit. It has now returned to the market paying $80,318 per Bitcoin, around 29% above the average sale price.

Even after the new acquisition, the company still holds 2,345 BTC fewer than before the sales began. On the other hand, around $63 million of the difference remained in cash.

The shift in strategy followed problems with one of the company's main sources of financing. In June, STRC preferred shares fell below their $100 par value, reducing the appeal of issuing more of these shares to fund Bitcoin purchases.

In response, Strategy created a new capital management model that allows it to sell up to $1.25 billion in Bitcoin to fund dividends, interest and preferred share buybacks when needed. Recent company filings already showed this structure and a position of 840,447 BTC as of 23 August, before the new purchase.

The company resumed buying Bitcoin after a recovery in MSTR shares made issuing common stock a cheaper option for raising funds once again.

Strategy's cash reserve reaches $6.7 billion

At the same time as it resumed Bitcoin purchases, Strategy significantly expanded its dollar reserves.

The so-called USD Reserve, set aside primarily to pay dividends on preferred shares and interest on debt, reached $5.10 billion on 30 August. The more flexible cash reserve totalled $1.61 billion.

Together, the two reserves reached $6.71 billion. The company said that, taking this position into account, its net leverage stood at 0%.

During the week, Strategy also repurchased 1.56 million STRC preferred shares for $151.8 million. Around $364.8 million remains available under the authorised buyback programme for these shares.

A separate $1 billion authorisation for buying back MSTR shares themselves remains unused.

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