Strategy Holds Bitcoin Purchases, Launches $1.59 B Cash Pool After $2 B Stock Sale

Strategy, the world’s biggest publicly traded Bitcoin treasury, raised about $2 billion through an at‑the‑market offering of MicroStrategy (MSTR) shares and used the proceeds to expand its cash reserves while pausing new Bitcoin purchases.

Capital raise via MSTR stock sales

Between August 17 and August 23, Strategy sold 18.26 million MSTR shares under its ATM program, generating roughly $2 billion. The company also repurchased about 1.43 million of its STRC preferred shares for $136.4 million.

Cash reserve expansion

Strategy added $300 million to its existing U.S. dollar reserve, bringing that reserve to $5.1 billion. The remaining proceeds were placed in a newly created U.S. dollar cash account, now holding $1.59 billion. Combined, the two cash pools total $6.69 billion.

Bitcoin holdings unchanged

During the same period, Strategy made no Bitcoin purchases or sales, leaving its balance at 840,447 BTC. The company’s cost basis for the Bitcoin remains $63.36 billion, reflecting an average acquisition price of $75,385 per BTC.

Purpose of the new cash account

The new cash account is intended to give management flexibility to respond to market conditions and to fund potential Bitcoin purchases, preferred‑stock dividends, debt payments, and securities repurchases.

Background on cash buildup

Strategy initially created its U.S. dollar reserve in December 2025 with $1.44 billion to support preferred‑stock dividends and interest on debt. The reserve grew from $900 million at the end of May to $5.1 billion by early August as the company pursued more active capital management.