Strategy Raises $334M via MSTR Stock, Leaves 840,447 BTC Untouched

Strategy sold 3.46 million shares of MSTR common stock between Aug. 10 and Aug. 16, raising $333.7 million, while making zero Bitcoin purchases during the week, according to a Monday 8-K filing with the US Securities and Exchange Commission. The company’s Bitcoin position stayed frozen at 840,447 BTC, a stack acquired for an aggregate $63.36 billion — an average cost of $75,385 per coin.

The equity raise, executed through Strategy’s at-the-market offering program, was routed entirely into shoring up its preferred-stock obligations and cash buffer rather than adding BTC exposure. It marks a pause after several consecutive weeks in which the firm had been trimming Bitcoin to fund similar obligations.

Where the $333.7 million went

Of the proceeds, $52.4 million covered the twice-monthly dividend on Strategy’s STRC preferred stock, and $132.2 million funded a buyback of roughly 1.39 million STRC shares. The remaining $149.1 million was parked in Strategy’s US dollar reserve, which stood at $4.80 billion as of Sunday, including proceeds from sales that had not yet settled.

That reserve exists specifically to backstop preferred-stock dividends and interest payments on Strategy’s outstanding debt — a cushion the company has been rebuilding as it juggles multiple classes of preferred equity alongside its core Bitcoin holdings. The company made no repurchases of any other preferred securities or of MSTR common stock itself during the period.

STRC slips, Bitcoin steady near $63,600

STRC shares closed Friday down 1.03% at $94.78 and were off a further 0.12% in premarket trading Monday at $94.67. Bitcoin itself traded around $63,600–$63,670 at the time of the filing, roughly 15% below Strategy’s average acquisition price of $75,385 per coin — a gap that underscores why the company’s BTC position remains a paper loss on aggregate cost basis even as its dollar-denominated treasury operations continue uninterrupted.

For a company whose entire market identity rests on being the largest corporate Bitcoin holder, a week with no BTC transactions at all is notable mainly for what it signals about capital priorities: preferred-stock holders and dollar liquidity took precedence over adding to the 840,447 BTC pile, at least for these seven days.

Why it matters for holders

Strategy’s Bitcoin stack remains the single largest known corporate holding, so any shift in its buying or selling cadence is closely watched as a proxy for institutional demand. A week of dilution funding preferred obligations rather than BTC accumulation — paired with a $4.80 billion cash reserve — suggests the company is currently prioritizing balance-sheet stability over expanding its coin count, even as it keeps its existing 840,447 BTC untouched.

Read more: MSCI Screen Could Strip Strategy’s 840,447 BTC, Metaplanet’s 43,000 BTC From Indexes

Sources

• decrypt.co
• cointelegraph.com
• coingape.com