Strategy Raises $2 Billion From MSTR Share Sales, Channels $1.6 Billion Into New US Dollar Cash Account
Key Takeaways
- •Strategy sold 18.26 million MSTR shares between Aug. 17 and Aug. 23 through its at-the-market offering program.
- •The company raised about $2 billion and used part of the proceeds to repurchase roughly 1.43 million STRC preferred shares for $136.4 million.
- •Strategy added $300 million to its US dollar reserve and placed the remaining proceeds into a newly launched cash account.
- •The company reported no Bitcoin purchases or sales during the week, leaving its holdings at 840,447 BTC.
- •As of Sunday, Strategy said it held $5.1 billion in its reserve and $1.59 billion in the new cash account, for total cash of $6.69 billion.
Strategy, the world's largest publicly listed Bitcoin holder, raised approximately $2 billion through common stock sales last week while making no new Bitcoin purchases, according to a Monday filing with the US Securities and Exchange Commission.
The Bitcoin treasury company sold 18.26 million MSTR shares between Aug. 17 and Aug. 23 through its at-the-market (ATM) offering program, a mechanism that lets issuers sell stock into the open market at prevailing prices over time rather than through a single priced offering. Strategy used part of the proceeds to repurchase about 1.43 million of its STRC preferred shares for $136.4 million, added $300 million to its US dollar reserve, and directed the remainder into a newly launched US dollar cash account.
As of Sunday, the company reported $5.1 billion in its reserve and $1.59 billion in the new cash account, bringing total cash across the two pools to $6.69 billion.
Strategy said the new cash account gives management greater flexibility to respond to market conditions. Funds from the account can support purposes including Bitcoin purchases, preferred-stock dividends, debt payments, and securities repurchases, the company said. Subsequent filings will show whether the enlarged cash position is directed toward additional Bitcoin purchases, further preferred-share repurchases, or the debt and dividend obligations the company has outlined.
The company made no Bitcoin purchases or sales during the week, leaving its holdings at 840,447 BTC, acquired for $63.36 billion at an average price of $75,385 per Bitcoin. Strategy, formerly known as MicroStrategy, rebranded in February 2025 and began treating Bitcoin as its primary treasury reserve asset in August 2020 under co-founder Michael Saylor; its issuance-funded accumulation playbook has since been adopted by other public companies, including Japan's Metaplanet and US-based Semler Scientific.
Strategy first established its US dollar reserve in December 2025 with $1.44 billion to support preferred-stock dividends and interest payments on outstanding debt. The company stepped up its cash buildup in June as it moved toward more active capital management, aiming to meet growing dividend and interest obligations while preserving its long-term Bitcoin exposure. The reserve has grown from $900 million at the end of May to $5.1 billion as of Sunday.
Related: Strategy Bitcoin treasury hits breakeven point as BTC price passes $77K
