Strategy buys 1665 BTC for $142.7 million last week. The Bitcoin treasury firm also continued its STRC stock buyback. Specifically, it repurchased nearly $152 million worth of shares.

Why Strategy buys 1,665 BTC matters

An SEC filing shows the purchase. The average price was $85,681 per BTC. Consequently, Strategy now holds 847,666 BTC. The company bought these for $63.95 billion. That equals an average price of $75,437 per BTC.

This marks Strategy’s second consecutive weekly Bitcoin purchase. It followed a brief pause earlier this month. For example, last week the firm announced a $75 million buy. Then, it acquired 950 BTC.

Meanwhile, Strategy again sold MSTR shares. Therefore, it used the proceeds to fund this purchase. Specifically, it sold over 1.46 million shares for $246.2 million. The company has relied on MSTR stock since STRC fell below $100. That happened earlier this year.

Despite these sales, MSTR stock is now up for the year. Bitcoin’s rally to $84,000 helped. The stock has climbed over 285% in the past month. In addition, it is up over 2% year-to-date.

STRC stock buyback continues

Strategy also bought back more STRC shares last week. It acquired just over 1.5 million shares for $151.7 million. The company continues buying back its preferred security. This happens as STRC trades below its par value.

STRC rebounded massively from its low of around $70. That low occurred earlier this year. According to TradingView data, it now trades just below $100. The stock is also up nearly 2% in the last month. Moreover, it climbed alongside BTC.

Strategy used net proceeds from MSTR sales to fund this repurchase. The remaining sum came from its USD Cash Pool. Thus, the company still holds a USD Cash reserve of $1 billion. It also holds a USD reserve of $5.02 billion.

Strategy hints at Bitcoin buy after a two-month pause. The company’s co-founder, Michael Saylor, signaled the purchase on X.

He posted the company’s Bitcoin portfolio tracker. The caption read: “We’re ₿ack.”

Why Strategy hints at Bitcoin buy now

Saylor has gained a reputation for Sunday posts. These have often foreshadowed a BTC purchase announcement the following day.

The Bitcoin treasury company had been on a two-month break. Its last reported purchase was on June 22. During this period, the company offloaded some BTC holdings. It used the proceeds to buy back preferred security. It also paid dividends on the stock.

Saylor’s hint comes just a week after another development. The company revealed it had created a $1.59 billion USD cash pool. It noted it could use some of the cash for future BTC purchases.

Strategy’s current holdings

Strategy currently holds over 840,447 BTC. It bought these for $63.36 billion. The average price is $75,385 per BTC. The company also holds a USD reserve of over $5 billion.

Traders betting on a purchase announcement tomorrow

Crypto traders are betting on a BTC purchase announcement tomorrow. Polymarket data shows a 98% chance this will happen.

The odds rose sharply from a low of around 20%. This jump followed Saylor’s X post.

Bitcoin also climbed on the back of Saylor’s post. The leading crypto currently trades at nearly $79,000. TradingView data confirms this.

Strategy’s Bitcoin investment is once again in the green. The company holds an unrealized profit of almost $2.6 billion. This follows Bitcoin’s rally over the last two weeks. BTC rose from a low of around $63,000.

Strategy raises $3.28 billion in August stock sales. The company sold its own shares.

Nevertheless, it spent none of that money on Bitcoin. Strategy bought dollars instead.

Why Strategy raises $3.28B but buys no Bitcoin

Four weekly filings show the full picture. Strategy sold 31.3 million shares so far across August. Not one dollar became Bitcoin.

The cash went into two distinct piles. The USD Reserve grew from $4.0 billion to $5.10 billion. A brand new pool called USD Cash holds another $1.59 billion.

That is $6.69 billion sitting in dollars. The reserve has one specific job. It covers dividends and debt interest. USD Cash is far looser.

“A separately designated pool of U.S. dollar liquidity that the Company may retain for future deployment for general Bitcoin Treasury Company purposes, which may include acquiring Bitcoin,” the latest Strategy filing says.

The option to buy is funded and written down. The company simply has not used it.

The selling started in June and never stopped

Strategy last bought Bitcoin on June 22. It took 520 coins at $67,068 each.

Since that day, it has sold 6,916 coins. It has bought none. Two of those sales fell in August. They moved 3,328 BTC near $64,000 a piece.

Bitcoin trades near $79,149 after a 22% climb in seven days. Strategy’s average cost is $75,385 a coin. The company sold low, then sat out the bounce. Its nine-week buying pause is still running.

A 2025 Bitcoin raise that became a bill

Strategy sold STRC preferred stock in July 2025. It raised $2.47 billion. The stated use of proceeds included buying Bitcoin.

STRC paid 9% a year at launch. It pays 12% now. The shares also trade under their $100 face value.

Strategy is buying them back at a discount. It spent $458.4 million on 4.88 million STRC shares in August. This was partly funded by selling Bitcoin.

Every share retired kills a future dividend. Saylor mapped these pressure points in a Bitcoin credit risk model published this month.

Raising more cash stays easy. Strategy’s shelf programs still hold $44.9 billion of unused capacity across five securities.

What comes next

September asks a simpler question. With Bitcoin back above its cost basis, will Strategy finally spend some of that $6.69 billion on coins?

Strategy Bitcoin holdings now sit above acquisition cost. BTC trades near $77,169 on August 23.

Michael Saylor renewed his case for the asset. He described it as a mechanism for converting economic value. This digital form is secure and controllable.

Why Strategy Bitcoin holdings matter

“Bitcoin represents the breakthrough of converting economic energy into digital form,” Saylor wrote on X. It can bind securely to individuals, companies, or machines.

“Digital energy” is Saylor’s metaphor for transferable value. It is not an accounting classification. It is also an investment thesis.

Saylor has repeatedly compared money to stored energy. Bitcoin’s capped supply and decentralized system allow value transfer. Owners do not rely on a single bank or government.

Nevertheless, this argument does not remove Bitcoin’s price risk. Dollar values can change rapidly. Companies must still meet expenses in conventional currencies.

Strategy Bitcoin holdings in numbers

Strategy reported 840,447 BTC as of August 16. The company acquired them for $63.36 billion. That equals an average cost of $75,385 per coin.

The position represents about 4% of Bitcoin’s supply. That includes unmined coins nevertheless.

At current prices, Strategy’s holdings are worth $64.86 billion. That places the position about $1.5 billion above cost. This is a market-based estimate, not fixed profit. It can change immediately with Bitcoin’s price. It also does not account for debt or dividends.

As previously reported, the treasury only recently crossed its average cost.

Digital credit products are preferred shares

Strategy calls its capital platform “Digital Credit.” The category includes STRC, STRF, STRK, and STRD. These are preferred shares, not blockchain tokens.

STRC is a variable-rate perpetual preferred stock. It has a $100 stated amount. It pays cash dividends when declared. The prospectus warns that management may not keep its price near $100.

Nevertheless, Strategy uses repurchases and dividend adjustments. On August 17, the company spent $132.2 million. It repurchased 1.39 million STRC shares.

The company financed these with MSTR share sales, not tokenized Bitcoin. Nevertheless, the previous week saw Bitcoin sales. Strategy sold 1,690 BTC for $108.6 million. Those proceeds funded STRC repurchases.

What investors should watch next

Strategy raised $333.7 million from selling MSTR shares. This happened between August 10 and August 16. It allocated $52.4 million to STRC dividends. $132.2 million went to repurchases. $149.1 million added to the dollar reserve.

The reserve reached $4.80 billion. It supports preferred dividends and interest payments. The company reported no Bitcoin purchases or sales that week.

CEO Phong Le said Strategy expects to resume accumulation. This will happen after STRC recovers toward $100. No purchase date has been announced nevertheless. Future SEC filings will show the next moves.

Strategy boosts USD reserve to $3.75 billion. The company added $525 million to its cash holdings.

This follows the sale of about $544.5 million in MSTR stock. The SEC filing confirmed this on July 27.

Why Strategy boosts USD reserve

The company now has 2.1 years of dividend coverage. This represents a significant increase from previous levels. The cash reserve provides more financial flexibility.

Strategy also conducted its first STRC preferred stock buyback. The company purchased 288,930 shares worth $25 million. This marks the first buyback under the Digital Credit Securities Repurchase Program.

The program launched last month. $975 million remains available for future buybacks. Additionally, $1 million worth of MSTR stock is still available.

Bitcoin holdings remain unchanged

Strategy didn’t buy any Bitcoin again this week. The company continues diluting MSTR stock instead. Current holdings remain at 843,775 BTC.

These Bitcoins are worth $58.47 billion at current prices. However, the company sits on a $5.21 billion unrealized loss. The coins were purchased for $63.68 billion.

Market reaction

MSTR stock closed 2.09% lower at $91.67 on Friday. The intraday range was $89.76 to $93.68. Trading volume remained below average.

Nevertheless, MSTR jumped 2.21% in premarket trading. It currently trades at $93.70. This follows a pause in the US-Iran war.

The stock remains down 10% in a month. It is down almost 50% year-to-date. STRC stock rose 1.66% to $88.33 nevertheless. This remains below the $100 target price.

Analysts remain optimistic about the stock. TD Cowen, Citigroup, Bernstein, and Barclays maintain buy ratings. The average 12-month price target is $275.

Bitcoin holds above $65K

Bitcoin held above $65,000 over the last 24 hours but now it fell to $64,515. Positive progress in Iran-Oman talks supported the price. The 24-hour range was $64,354 to $65,658.

Trading volume increased by 86% over the past few hours. This signals bullish sentiment among traders.