Strategy Raises $334M From MSTR Sales as Bitcoin Holdings Stay Flat

Highlights:

• Strategy sold 3.46 million MSTR shares for $333.7 million and made no Bitcoin trades.
• The USD reserve rose to $4.8 billion after the company added roughly $149.1 million.
• STRC repurchases totaled $132.2 million, while preferred dividend funding reached $52.4 million.

Bitcoin treasury company Strategy kept its Bitcoin balance unchanged last week while raising cash through another large common-stock sale. According to an 8-K filing on Monday, the company sold 3.46 million MSTR shares between August 10 and August 16, generating about $333.7 million. Meanwhile, the firm directed the proceeds toward preferred-stock obligations, share repurchases, and its expanding dollar reserve.

The firm reported no Bitcoin purchases or sales during the period. Therefore, its holdings stayed at 840,447 BTC after earlier sales reduced the balance. The average purchase price stands at $75,385 per coin, leaving the position below its total acquisition cost.

Strategy Uses MSTR Sales to Build Cash

Strategy split the $333.7 million in proceeds across three main uses during the week. It allocated $52.4 million toward dividend payments on its STRC preferred stock. Additionally, it spent $132.2 million repurchasing 1,388,720 STRC shares under its existing repurchase authorization.

The remaining $149.1 million went into the company’s U.S. dollar reserve. As a result, that reserve reached $4.8 billion by August 16. The company said the reserve now covers about 2.8 years of preferred dividends and debt interest obligations.

Strategy increased its USD Reserve by $150M and repurchased $132M of $STRC. This increased USD Duration by 41 days to 2.8 yrs and tightened STRC's BTC Credit by 4 bps to 114 bps. As of 8/16/26, we hold ₿840,447 in our BTC Reserve and $4.8B in our USD Reserve. $MSTR…

— Strategy (@Strategy) August 17, 2026

Moreover, the cash increase follows recent changes in the company’s capital management approach. Its Digital Credit Capital Framework directs the reserve toward preferred dividends and interest payments. The framework also supports securities repurchases without requiring immediate changes to the Bitcoin position. 

The latest STRC purchase falls under a $1 billion repurchase program the board approved in late June. STRC holds the initial priority under that plan. Following last week’s activity, the company still had about $653 million available under the preferred-stock repurchase program.

Moreover, the latest pause follows a difficult second quarter for the company’s reported earnings. At the end of July, Strategy disclosed an $8.22 billion Q2 loss while discussing its future capital plans. Despite that loss, management said it still intended to acquire more Bitcoin over time. At the same time, the company kept open the option of selling Bitcoin to strengthen its finances.

Bitcoin Position Stays Unchanged During Week

The company’s Bitcoin reserve stayed at 840,447 BTC after a week without transactions. At roughly $63,500 per Bitcoin, the position carries a market value near $53.4 billion. That value sits about $10 billion below the company’s reported total Bitcoin purchase cost. Still, the holdings equal roughly 4% of Bitcoin’s fixed 21 million coin supply cap.

Michael Saylor also skipped his usual weekend Bitcoin tracker post before the filing. His Sunday posts have often appeared before purchase announcements. Recently, though, the posts have offered fewer clear signals as the company adjusted its capital strategy.

Meanwhile, STRC closed last week near $95 after recovering from a decline toward $75. However, the preferred shares still traded below their $100 par value. The company’s latest repurchase therefore focused capital on securities trading beneath that reference level.

After the announcement, market trading reflected modest gains early Monday. According to data from Google Finance, MSTR shares have surged about 2.4% in premarket trading. Bitcoin has also gained more than 1% over 24 hours to trade around $63,430.