TL;DR
- Capital Raise: Strategy generated $333.7 million from MSTR sales and allocated funds to dividends, buybacks, and reserves.
- Preferred Stock: Strategy repurchased 1.39 million STRC shares while leaving other authorizations untouched.
- Bitcoin Position: Strategy made no BTC moves, keeping holdings at 840,447 BTC and pausing its recent disposal streak.
Strategy raised $333.7 million last week through sales of its MSTR common stock, but the company kept its Bitcoin position unchanged, marking a pause in the weekly disposals that had supported dividends and buybacks since June. The latest 8-K filing shows the firm sold 3.46 million shares between Aug. 10 and Aug. 16, generating fresh liquidity while leaving its 840,447 BTC untouched at an average purchase price of $75,385.
Strategy increased its USD Reserve by $150M and repurchased $132M of $STRC. This increased USD Duration by 41 days to 2.8 yrs and tightened STRC's BTC Credit by 4 bps to 114 bps. As of 8/16/26, we hold ₿840,447 in our BTC Reserve and $4.8B in our USD Reserve. $MSTR…
— Strategy (@Strategy) August 17, 2026
Capital Allocation Focuses on Preferred Stock and Cash Reserves
The filing details a three-way split of proceeds: $52.4 million funded twice-monthly dividends on STRC preferred stock, $132.2 million went toward repurchasing that same security, and $149.1 million was added to Strategy’s US dollar reserve. The repurchase activity brought in about 1.39 million STRC shares, leaving $653 million of the $1 billion Digital Credit Securities Repurchase Program still available. A separate $1 billion authorization for MSTR buybacks remains unused.
STRC slipped 0.12% in premarket trading Monday at $94.67 after closing Friday at $94.78. Strategy reported no repurchases of other preferred securities or its common stock. Its dollar reserve reached $4.80 billion as of Sunday, including expected proceeds from unsettled stock sales, up from $4.65 billion the prior week.
Bitcoin Activity Stalls After Months of Disposals
Strategy made no Bitcoin purchases or sales during the week, ending a run of disposals that began in May. The company has sold 6,948 BTC for around $432.5 million since then, including 1,690 BTC last week for $108.6 million, all of which went toward STRC buybacks. Those sales fall under a June capital framework allowing up to $1.25 billion of Bitcoin disposals to support dividends, interest, buybacks and reserves. About $429 million of that capacity has been used, leaving roughly $820 million.
With Bitcoin trading near $63,500 on Monday, Strategy’s holdings are worth about $53.4 billion against the $63.36 billion it paid, reflecting a shortfall of roughly $9.9 billion. The company has not added to its Bitcoin stack since June, and last week’s capital raise suggests a continued preference for liquidity and balance sheet reinforcement over new BTC accumulation.
