Strategy raises $2 billion through MSTR stock sales, keeps Bitcoin holdings steady

MicroStrategy (ticker: MSTR) raised about $2 billion by selling 18.26 million common shares between August 17 and August 23. The proceeds were largely retained as cash, while the company’s Bitcoin treasury remained unchanged at 840,447 BTC.

Cash buildup and new account

The stock sale increased total cash to $6.69 billion. $300 million was moved to an existing U.S. dollar reserve, and $1.59 billion was placed in a newly created cash account, giving management flexibility for future capital deployment.

Preferred‑stock repurchases

MicroStrategy used $136.4 million to repurchase roughly 1.43 million shares of its STRC perpetual preferred security. This follows prior weeks’ repurchases of $132.2 million and $108.6 million.

Bitcoin holdings unchanged

Despite the large inflow of cash, the firm made no Bitcoin purchases or sales during the reporting period, keeping its treasury at 840,447 BTC – an aggregate cost of $63.36 billion at an average price of $75,385 per Bitcoin.

Capital framework context

The company’s capital framework, adopted in late June, authorizes up to $1.25 billion of Bitcoin sales for reserve funding and separate $1 billion repurchase authorizations for common and preferred securities. Earlier Bitcoin sales in July and August reduced the balance from 847,363 BTC to the current level.

Reserve growth trajectory

MicroStrategy’s U.S. dollar reserve has risen from $1.44 billion at inception (December 2025) to $5.1 billion as of August 23, reflecting a series of stock sales and cash allocations.