Overview

• An SEC filing shows Strategy bought 3,081 BTC between Aug. 18–24 for $356.9 million at an average price of $115,829, lifting its holdings to 632,457 BTC worth about $70 billion.
• The company raised roughly $310 million by selling 875,301 common shares and about $47 million via preferred issues SRTK, STRF and STRD to fund the purchase.
• Management recently said it could issue equity when “deemed advantageous,” setting aside parts of a 2.5x mNAV threshold and prompting investor criticism over dilution.
• August buying has slowed sharply, with 3,666 BTC added this month versus 31,466 BTC in July, even as the firm maintains long-term accumulation targets.
• Following the disclosure, MSTR fell more than 4% in premarket trading and Bitcoin slipped to roughly $111,500–$112,000.