Strategy is back in the market. The company bought 4,603 bitcoin for $369.7 million last week, its first purchase since June, ending a roughly two-month stretch on the sidelines. Decrypt called it the longest dry spell of the year for the firm.
Total holdings now stand at 845,050 BTC. Strategy paid a cumulative $63.73 billion for the stack, an average of $75,412 per coin, according to Decrypt, citing an SEC filing. At current prices, Bitcoin Magazine puts the holdings value above $66 billion. The latest tranche was acquired between August 24 and 30 at an average of $80,318 each.
That number is worth dwelling on. Between May and August, Strategy sold 6,948 BTC for about $432.5 million, offloading at roughly $62,250 a coin. It then re-entered at $80,318. The re-buy ran about 29% above the summer sale price. Net of the round trip, the company is down 2,345 BTC and kept roughly $63 million in cash. Holders, as ever, are divided.
Equity funded the purchase. Strategy sold 4,531,421 MSTR shares through its at-the-market programme during the same week and raised $602.8 million net. The allocation: $369.7 million to bitcoin, $151.8 million to repurchasing STRC preferred stock, $50.7 million to STRC dividends, $30 million into a USD Cash account, Decrypt reported, citing the SEC filing. Another 1,557,177 STRC shares were repurchased as well.
The hiatus had a clear cause. STRC dipped below its $100 par value in June, shutting off a funding channel Strategy had relied on to accumulate bitcoin, Decrypt noted. In response, the company set up a Digital Credit Capital Framework authorizing up to $1.25 billion of bitcoin sales to cover dividends and buy back preferred shares at a discount. Purchases restarted only after MSTR stock recovered enough to make equity issuance the cheaper option.
Executive Chairman Michael Saylor wrote on X on August 31: “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 and $6.71B of USD Assets, bringing Net Leverage to 0.0%.”
The USD Reserve, set aside for preferred dividends and debt interest, was $5.10 billion on August 30. Unrestricted USD Cash stood at $1.61 billion. Combined USD assets totalled $6.71 billion. Both Decrypt and Bitcoin Magazine described the transaction as the first corporate bitcoin purchase since June.
Two repurchase authorizations remain on the books. Roughly $364.8 million is available under the $1 billion digital credit repurchase plan. A separate $1 billion authorization to buy back MSTR stock has not been tapped. Strategy, formerly MicroStrategy, gave no indication of when it might buy next.
