Strategy strengthened its balance sheet this week, raising its USD Reserve to $5.10 billion, establishing a new $1.59 billion USD Cash pool, and repurchasing $136.4 million of its STRC preferred stock, according to a Form 8-K filed with the SEC on August 24, 2026. The moves were funded by the sale of 18.26 million MSTR shares, while the company's bitcoin holdings held steady at 840,447 BTC — close to 4% of the total bitcoin supply — with near-zero net leverage as of August 23, 2026. Strategy — the Tysons Corner, Virginia-based firm formerly known as MicroStrategy — is the largest publicly listed corporate holder of bitcoin, and Form 8-K filings are the channel it uses to disclose material changes in its capital structure to investors.

Strategy Adds USD Cash to Its Capital Framework

Strategy introduced USD Cash as a new layer within its Digital Credit Capital Framework. The pool is a separately designated source of U.S. dollar liquidity. Management may use it for bitcoin purchases, preferred dividend payments, and interest on outstanding debt, and the funds can also support stock buybacks or convertible note repayments.

The layering matters because each of Strategy's preferred series — STRC, STRF, STRK, and STRD — carries stated dividend obligations, and separating dollars earmarked for those payments from discretionary liquidity makes the coverage of those obligations explicit.

The existing USD Reserve policy stays unchanged under the update. That reserve remains earmarked specifically for preferred stock dividends and debt interest, and USD Cash is designed to work alongside it rather than replace it. Strategy first outlined the broader framework in a filing on June 29, 2026.

The company said the added flexibility should help it react faster to market shifts, including potential dislocations in bitcoin prices or in the trading of Strategy's own securities.

As of August 23, the USD Reserve stood at $5.10 billion, while the new USD Cash balance reached $1.59 billion during the same period. Strategy shared the figures through its official channel on X, formerly Twitter:

Strategy increased USD Reserve to $5.10B, established additional USD Cash of $1.59B, and repurchased $136M of $STRC . As of 8/23/26: Strategy holds ~4% of Total BTC Supply and has ~0% Net Leverage. $MSTR

— Strategy (@Strategy) August 24, 2026

The post also noted the firm's roughly 4% share of total bitcoin supply, with net leverage across the balance sheet remaining close to zero. Bitcoin's protocol caps total supply at 21 million coins, a fixed ceiling that underpins the supply-share math in the company's weekly updates.

ATM Sales and Repurchase Activity Continue

Strategy's at-the-market program saw activity in its Class A common stock during the week. The company sold 18,261,118 MSTR shares under the ATM between August 17 and August 23, with the proceeds split across three purposes. At-the-market programs allow a company to sell newly issued shares into the secondary market over time at prevailing prices, rather than through a single priced offering, making them a standard tool for incremental capital raising.

Roughly $136.4 million funded the STRC repurchase noted above, another $300 million from the common stock sales went toward increasing the USD Reserve, and the remaining proceeds were directed into the new USD Cash account.

No shares were sold under the STRF, STRK, or STRD preferred stock programs this period. Availability under those programs ranged from roughly $1.6 billion to $19.7 billion.

On the buyback side, Strategy repurchased 1,431,212 shares of STRC stock for $136.4 million, leaving $516.6 million available under the Digital Credit Securities Repurchase Program for preferred shares. No MSTR common stock was repurchased during the week, and the company still has $1.0 billion available under its separate MSTR buyback program.

Bitcoin Holdings Unchanged at 840,447 BTC

Bitcoin holdings remained unchanged this week, with no purchases or sales recorded. Strategy's total holdings stand at 840,447 BTC, at an average purchase price of $75,385 per coin across all holdings, implying an aggregate cost basis of roughly $63.4 billion. The company continues to publish weekly updates through its investor dashboard at strategy.com; because the new USD Cash pool is authorized for bitcoin purchases among other uses, those weekly disclosures will show whether and how the $1.59 billion is deployed.