Michael Saylor announced Monday that Strategy purchased 4,603 bitcoin between Aug. 24 and Aug. 30 for approximately $369.7 million, the company's first major bitcoin acquisition since June 22. The buy brings Strategy's total holdings to 845,050 BTC, according to Saylor's post on X and a concurrent SEC filing.
"Strategy has acquired 4,603 BTC for $370M, increased USD Cash by $29M, and repurchased $152M of STRC. As of 8/30/26, we hold 845,050 BTC and $6.71B of USD Assets, bringing Net Leverage to 0.0%," Saylor wrote.
The transaction covered more than bitcoin. Strategy simultaneously added $29 million to its U.S. dollar cash position and bought back $152 million of STRC, one of the preferred securities the company issues to fund its treasury operations. Those parallel moves pushed Strategy's reported U.S. dollar reserve to $5.10 billion, with $1.61 billion held in cash.
The capital structure adjustments tightened the risk profile on STRC. "These actions further strengthen STRC. USD Reserve is $5.10B and USD Cash is $1.61B, improving USD Duration to 4.0 yrs (+23d) and STRC's BTC Credit to 56 bps (-3 bps)," Saylor said. The BTC credit figure—a measure of bitcoin-related credit risk embedded in STRC—fell three basis points to 56 basis points, while dollar duration extended by 23 days to four years. Both moves reduce STRC holders' exposure to near-term bitcoin price swings.
Saylor telegraphed the purchase a day before disclosure. His Sunday post reading "We're ₿ack" followed a pattern bitcoin watchers recognize: Saylor routinely hints at imminent acquisitions over the weekend before a Monday or Tuesday SEC filing confirms it. Traders tracking MSTR and the preferred securities anticipated the fresh buying before the numbers dropped.
At 845,050 BTC, Strategy now controls roughly 4 percent of Bitcoin's hard-capped 21 million-coin supply. No other publicly traded company holds bitcoin at that scale. The concentration makes every Strategy purchase a market event: a near-$370 million buy arriving over six days represents sustained, price-insensitive accumulation visible in order flow on spot exchanges.
The company reported net leverage of 0.0 percent as of Aug. 30, meaning its $6.71 billion in total U.S. dollar assets now fully offsets its outstanding obligations. That figure matters for MSTR shareholders and preferred security holders because it shows the company is not running a leveraged position—its debt and equity raises are matched by dollar reserves and bitcoin holdings valued at current prices.
The Aug. 24-30 purchase extends a buying program that started in August 2020, when the company—then called MicroStrategy—deployed $250 million into 21,454 BTC. Saylor's original thesis was straightforward: cash erodes purchasing power over time, and bitcoin offers a finite, portable alternative. That argument has since become the formal operating philosophy of the renamed firm.
Saylor stepped down as CEO in 2022 and moved to executive chairman, with Phong Le taking over day-to-day management. The rebrand to Strategy followed in February 2025, when the company adopted an orange visual identity drawn from bitcoin's color conventions. Since then, the firm has continued tapping equity markets and debt instruments—including multiple tranches of preferred securities like STRC—to finance additional purchases rather than relying solely on operating cash flow.
The latest acquisition added approximately 4,603 BTC to a treasury that stood near 840,447 BTC before the purchase. At the average acquisition price of $80,318 per coin, the cost basis on this tranche sits well below current spot levels. Corporate treasury managers at other public companies have watched Strategy's model closely since 2020; a handful have replicated versions of it, though none at the same scale.
With $1.61 billion in cash on hand and an established pipeline of equity and debt raises, Strategy has the capacity to keep buying.
