Key Takeaways
- Strategy acquired 4,603 BTC for $369.7 million during the week of August 24-30, marking its first accumulation in approximately two months.
- The acquisition was financed through $602.8 million generated from selling 4.53 million Class A common shares.
- Shares of MSTR climbed 1-2% in pre-market sessions following the disclosure.
- The company’s total holdings now stand at 845,050 BTC with an aggregate cost basis of $63.73 billion, averaging $75,412 per bitcoin.
- This transaction marks the end of a ten-week period during which Strategy had been divesting bitcoin holdings rather than accumulating.
Strategy (MSTR) has resumed its bitcoin accumulation strategy. The firm acquired 4,603 coins during the final week of August for $369.7 million, bringing closure to an approximately ten-week hiatus in purchases that had dampened investor confidence in the stock.
Shares of MSTR climbed 1-2% during pre-market hours on Monday following the disclosure. Executive Chairman Michael Saylor hinted at the company’s return to buying with a succinct message on X, posting “We’re ₿ack” on Sunday ahead of the formal SEC 8-K filing released Monday morning.
The company paid an average of $80,318 per bitcoin. This represents a modest premium compared to the prevailing market rate during the purchase window, which ranged between $78,280 and $78,400.
To finance the acquisition, Strategy sold 4.53 million Class A common shares, generating total proceeds of $602.8 million. Of this amount, $369.7 million was allocated to bitcoin purchases. The balance was distributed between $151.8 million for repurchasing the company’s STRC preferred stock and bolstering cash reserves.
Breaking a Ten-Week Divestment Pattern
The purchasing pause was intentional. On June 29, 2026, Strategy’s board greenlit a Digital Credit Capital Framework, which marked the first time the company received authorization to divest bitcoin holdings. This represented a departure from the firm’s historically steadfast accumulation-focused strategy.
During the subsequent ten weeks, Strategy divested 6,948 BTC, realizing $432.5 million in proceeds. These funds were directed toward preferred-stock dividend payments and STRC buybacks. While Bitfinex analysts characterized the sales as negligible relative to daily spot market volumes, the perception still inflicted damage. The reality that the market’s most prominent corporate bitcoin advocate was selling became a persistent bearish narrative.
A two-week cessation of sales in late August began to alleviate this concern before Monday’s announcement definitively signaled the resumption of accumulation.
Current Position and Price Basis
Strategy’s current holdings total 845,050 bitcoin with an aggregate acquisition cost of $63.73 billion. The weighted average purchase price across all transactions stands at $75,412 per coin.
This figure represents a modest decline from the company’s peak position. Strategy held 847,363 BTC on June 21 before initiating the sales period.
Bitcoin traded near $78,400 on Monday morning, showing slight gains from Friday’s closing price. Given that Strategy’s latest purchase was executed at a premium to current levels, the most recent acquisition tranche is showing an unrealized loss at present market valuations.
The 8-K filing and Saylor’s social media announcement on Monday verified the purchases. The company provided no additional guidance regarding the timing or magnitude of potential future acquisitions.
