Strategy, the company formerly known as MicroStrategy, just snapped up 4,603 Bitcoin for $369.7 million between August 24 and 30. Executive chairman Michael Saylor announced the purchase on August 30, breaking a 10-week hiatus from buying that had some observers wondering whether the company’s legendary Bitcoin appetite was finally cooling.
From seller back to buyer
Since June 22, Strategy had been a net seller of Bitcoin, offloading approximately 7,000 BTC for around $432.5 million. Those sales were funding mechanics: the company needed cash to support preferred-stock dividends and share repurchase programs.
In the week before this purchase, Strategy sold roughly 18.26 million MSTR shares for approximately $2.01 billion. That stock sale created a fresh $1.59 billion “USD Cash” reserve specifically earmarked for Bitcoin acquisitions, bringing the company’s total available liquidity to around $6.69 billion.
The 4,603 BTC buy was funded from those share sale proceeds rather than existing reserves.
