Strategy Restarts Bitcoin Buying With $370 Million Purchase

MicroStrategy resumed Bitcoin purchases after a ten‑week pause, acquiring 4,603 BTC for $369.7 million during the week ended August 30. The purchase was funded entirely from proceeds of a common‑share sale, leaving the company’s $5.10 billion USD Reserve untouched.

Funding and Allocation

MicroStrategy sold 4.53 million MSTR shares, generating net proceeds of $602.8 million. The allocation of those proceeds was:

• $369.7 million for Bitcoin purchases
• $151.8 million for repurchasing STRC preferred shares
• $50.7 million for STRC dividends
• $30 million to the flexible USD Cash account

Balance‑Sheet Impact

The new Bitcoin purchase raised the company’s holdings to 845,050 BTC, acquired at an aggregate cost of $63.73 billion and an average price of $75,412 per BTC. As of August 30, MicroStrategy also reported a $5.10 billion USD Reserve (restricted to preferred‑stock dividends and debt interest) and $1.61 billion of USD Cash, which can be used more broadly.

Capital Management Strategy

Since June, MicroStrategy has shifted from near‑continuous Bitcoin accumulation to a two‑way capital model that actively manages both sides of its balance sheet. The Digital Credit Capital Framework, announced on June 29, established a board‑approved USD Reserve policy, authorized repurchase programs, and permitted Bitcoin sales for specific purposes.

Under this framework, the company can issue securities when financing is favorable and repurchase them when deemed accretive. The recent week combined a common‑share issuance, a Bitcoin purchase, and a $151.8 million preferred‑share repurchase, all without tapping the USD Reserve.

Remaining Capital Capacity

After the transactions, MicroStrategy retained $19.09 billion of common‑stock issuance capacity under its at‑the‑market program and $364.8 million of authorized Digital Credit Securities repurchase capacity.