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Strategy Returns to Bitcoin Buying With $370 Million Purchase

The buy was funded by an at-the-market sale of 4.53 million MSTR shares, signaling Strategy is shifting from pure buy-and-hold to active capital management.

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Overview

  • Between Aug. 24 and Aug. 30 Strategy purchased 4,603 BTC for about $369.7 million, ending a roughly ten-week pause in reported buys.
  • The purchase was financed by net proceeds of $602.8 million from the sale of 4,531,421 MSTR shares through the company’s at-the-market program.
  • Strategy split the share-sale proceeds across uses, directing $369.7 million to Bitcoin, $151.8 million to repurchasing STRC preferred stock, $50.7 million to STRC dividends, and $30 million to USD Cash.
  • The move lifted Strategy’s holdings to 845,050 BTC with a cumulative cost basis near $63.73 billion (about $75,412 per coin) and reported combined USD assets of roughly $6.71 billion, leaving reported net leverage at 0.0%.
  • The return to buying highlights that future purchases will hinge on Bitcoin prices, MSTR capital-market conditions and the firm’s need to fund preferred‑stock payments and liquidity reserves, which could affect dilution and market signals for investors.