Strategy Holds Bitcoin Reserve and Expands Dollar Buffer

Strategy kept its Bitcoin reserve at 840,447 BTC and added about $150 million to its dollar buffer. The cash position is meant to keep supporting preferred stock dividends and debt obligations.

Key Takeaways

• Strategy raised $333.7 million last week through the sale of 3.46 million common shares.
• The company did not buy or sell any Bitcoin and kept its reserve unchanged at 840,447 BTC.
• About $150 million was added to the U.S. dollar reserve, which came to $4.80 billion.

Strategy raised $333.7 million (€288 million) last week through the sale of 3.46 million common shares, according to a filing submitted Monday. The Bitcoin treasury company did not buy or sell any Bitcoin during that period and kept its reserve unchanged at 840,447 BTC.

Capital to Reserve and Preferred Stock

Of the proceeds, Strategy used $132.2 million (€114 million) to buy back 1,388,720 shares of its variable preferred stock, STRC. Another $52.4 million (€45.3 million) went to STRC dividend payments, while about $150 million was added to the company’s U.S. dollar reserve.

That reserve stood at $4.80 billion (€4.1 billion) as of August 16. That put Strategy’s USD duration at 2.8 years. According to the company, that buffer is meant to support preferred stock dividend payments and interest costs on outstanding debt.

Earlier Bitcoin Sales Remain Relevant

The decision to shift capital toward the dollar reserve again fits a pattern that became visible over the past few months. In June, Strategy sold 32 Bitcoin for the first time in four years to fund preferred stock dividends, followed by a sale of 3,588 Bitcoin in July worth $216 million (€187 million). That was the largest Bitcoin sale in the company’s history.

For European crypto followers, what matters most is that Strategy, despite those earlier sales, is now leaving its large Bitcoin position untouched. That keeps the company one of the most closely watched publicly traded players in the crypto market, because changes in its balance sheet are often read broadly as a signal about financing, liquidity, and Bitcoin’s role in a treasury strategy. That also fits the broader debate about how large publicly traded Bitcoin treasuries structure their capital base, as in Strategy Builds $4.75 Billion Cash Buffer Around Bitcoin.

Market Reacts Mixed

After the announcement, MSTR rose 1.3 percent in premarket trading. Bitcoin gained more than 1 percent over the past 24 hours and traded around $63,500 (€54,900). Strategy also still has $653 million (€565 million) remaining under its preferred stock buyback program and $1 billion (€0.9 billion) under its MSTR buyback program.