Strategy Goes Another Week Without Buying or Selling Bitcoin, Builds Cash Reserve

Bitcoin treasury company Strategy went another week without buying the leading cryptocurrency, and it did not sell any Bitcoin during the period either.

In a regulatory filing on Monday, the Nasdaq-listed company said it increased its cash buffer by selling 3,458,866 shares of MSTR common stock to raise $333.7 million. Such filings have become a closely watched window into how the largest corporate Bitcoin holder is managing its treasury, particularly in weeks when it neither buys nor sells the asset.

Strategy said it added $150 million to its USD Reserve and repurchased $132 million of $STRC, extending USD Duration to 2.8 years, or 41 days longer, and tightening STRC BTC Credit to 114 basis points, or 4 basis points lower. As of 8/16/26, the company said it held 840,447 BTC in reserve and a $4.8 billion USD Reserve.

Michael Saylor wrote on X:

Strategy added $150M to its USD Reserve and repurchased $132M of $STRC , extending USD Duration to 2.8 yrs (+41 days) and tightening STRC BTC Credit to 114 bps (-4 bps). As of 8/16/26: ₿840,447 BTC Reserve; $4.8B USD Reserve. $MSTR — Michael Saylor (@saylor) August 17, 2026

Strategy used $52.4 million to pay dividends on its STRC preferred stock, then spent $132.2 million to buy the stock back. It also added $149.1 million to its dollar reserve. STRC is one of several preferred-stock issues Strategy has sold since 2025 as it broadened its funding beyond MSTR common shares and convertible debt, and such instruments carry ongoing dividend obligations that add to the company's regular cash needs.

The company, formerly known as MicroStrategy, has recently shifted toward selling common stock to build cash reserves rather than buying Bitcoin. Over the past two months, it has halted Bitcoin purchases and even sold part of its holdings after aggressively accumulating Bitcoin in 2025.

Strategy stock, Nasdaq: MSTR, has fallen more than 60% year to date in 2026. At a little over $95 per share, it is trading nearly 80% below its 2024 record. The share price matters beyond the stock chart: Strategy has funded its accumulation largely by issuing MSTR shares and instruments tied to them, so the level of the stock is a key variable in how much capital the company can raise through such sales.

Strategy began buying Bitcoin in 2020 as a way to protect shareholder returns. It has since become the largest corporate holder of Bitcoin, with 840,447 coins valued at $53.4 billion, acquired at an average price of $63,357, according to its website.

Even as it focuses on building its cash buffer, Strategy has said its long-term stance on Bitcoin has not changed. Earlier this month, CEO Phong Le said he was not concerned about the current bear market and that the company plans to remain a long-term buyer of Bitcoin despite recent sales.

“We’re the J.P. Morgan of the crypto economy, so whether we sell 1,000 Bitcoin out of 840,000 to me is irrelevant to the conversation,” Le said.

Strategy’s approach has also inspired a wave of copycat companies that have adopted similar crypto-treasury strategies, a wave that expanded rapidly during Bitcoin’s 2025 run-up.