Strategy Holds Bitcoin at 840,447 BTC as Cash Reserve Hits $4.8B

Strategy Leaves Bitcoin Holdings Unchanged

Strategy Inc. (Nasdaq: MSTR) filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) connected Aug. 17 stating that it made nary bitcoin purchases oregon income betwixt Aug. 10 and Aug. 16. The SEC filing near holdings astatine 840,447 BTC, acquired for $63.36 cardinal astatine an mean terms of $75,385 per bitcoin, including fees and expenses.

The institution sold 3,458,866 MSTR shares done its at-the-market program, producing $333.7 cardinal successful nett proceeds. Strategy directed $149.1 cardinal into its dollar reserve, spent $132.2 cardinal repurchasing 1,388,720 STRC shares and utilized $52.4 cardinal to money dividends connected the preferred stock.

Michael Saylor, Strategy’s enforcement chairman, shared successful an Aug. 17 station connected X:

“Strategy added $150M to its USD Reserve and repurchased $132M of STRC, extending USD Duration to 2.8 yrs (+41 days) … As of 8/16/26: 840,447 BTC Reserve; $4.8B USD Reserve.”

A bitcoin firm treasury holds BTC arsenic a balance-sheet reserve plus and tin concern that presumption done banal sales, indebtedness oregon preferred securities. Strategy’s operation besides creates recurring dividend and involvement obligations, making its dollar reserve a abstracted liquidity buffer alternatively than different measurement of its bitcoin holdings.

STRC is Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, which trades connected Nasdaq nether the STRC ticker. Strategy adjusts its annualized dividend complaint monthly aft reviewing marketplace conditions, bitcoin volatility, reserve sum and different factors. The institution targets a trading scope of astir $99 to $100, though dividends necessitate committee declaration and are not guaranteed.

Dollar Reserve Reaches $4.8 Billion

Strategy established its Digital Credit Capital Framework connected June 29 with a $2.55 cardinal reserve and a minimum sum policy. The reserve whitethorn enactment preferred-stock dividends and involvement connected outstanding debt, portion different uses necessitate committee authorization. The model besides authorized arsenic overmuch arsenic $1 cardinal successful integer recognition information repurchases.

The dollar equilibrium had already reached a record $4.65 cardinal by Aug. 9 aft expanding much than fivefold successful astir 2.5 months. Strategy past added different $149.1 cardinal during the latest reporting period, lifting the full to $4.8 billion, including proceeds from unsettled MSTR stock sales.

Saylor separately explained that Strategy calculated STRC’s BTC Credit done an interior exemplary utilizing an assumed 10% yearly bitcoin return, 40% bitcoin volatility and a bitcoin terms of $62,893. The calculation is simply a company-defined script based connected selected inputs, not an outer recognition standing oregon an observed measurement of STRC’s marketplace performance.

STRC Repurchases Expand arsenic Market Pressures Persist

Strategy repurchased 1,388,720 STRC shares for $132.2 cardinal during the Aug. 10-16 period. The SEC filing said $653 cardinal remained disposable nether its integer recognition securities repurchase program. The institution antecedently identified STRC arsenic its archetypal precedence if absorption determines that repurchases are accretive and would fortify the company’s superior structure. No MSTR communal shares were repurchased, leaving the abstracted $1 cardinal authorization afloat available.

The buyback followed Saylor’s disclosure that STRC recorded a 9% one-year return done Aug. 14, including currency dividends and distributions, portion bitcoin declined 47%. STRC remains a variable-rate perpetual preferred banal whose dividends necessitate committee declaration and legally disposable funds.

The company’s superior decisions are besides unfolding arsenic Strategy opposes an MSCI eligibility proposal that could region MSTR from planetary equity indexes. The consultation remains unresolved, with feedback owed Sept. 30 and results expected by Oct. 16. Any adopted alteration would participate the November scale review.