Catenaa, Tuesday, September 01, 2026- Strategy acquired 4,603 bitcoin for about $369.7 million last week, resuming substantial purchases and lifting the company’s holdings to 845,050 BTC, according to an SEC filing Monday.
The Michael Saylor-led company acquired the bitcoin between August 24 and August 30 at an average price of $80,318 per coin.
Strategy has now spent approximately $63.73 billion acquiring its bitcoin holdings, including fees and expenses. Its overall average purchase price stands at $75,412 per bitcoin.
At bitcoin prices above $78,000 cited when the purchase was disclosed, the holdings were worth roughly $66.1 billion.
That placed Strategy’s unrealized gain at about $2.34 billion based on the figures reported by The Block.
The company’s 845,050 BTC position is equivalent to slightly more than 4% of bitcoin’s maximum 21 million supply.
Strategy remains by far the largest publicly traded corporate bitcoin holder.
The latest purchases were financed through sales of Strategy’s Class A common stock under its at-the-market equity program.
The company sold 4,531,421 shares during the week and raised approximately $602.8 million in net proceeds.
Strategy used $369.7 million of that amount to purchase bitcoin.
Another $151.8 million was used to repurchase 1,557,177 shares of its STRC preferred stock, while approximately $50.7 million was allocated to STRC dividends.
The remaining $30 million was added to the company’s cash balance.
Strategy reported USD Cash of about $1.61 billion as of August 30, while its broader USD Reserve stood at $5.1 billion.
The company also retains substantial capacity to issue additional stock.
Approximately $19.09 billion of MSTR common shares remained available for issuance and sale under its at-the-market program as of August 30.
That gives Strategy considerable flexibility to raise additional capital if it chooses to continue accumulating bitcoin.
The latest transaction represents a change from several recent weeks in which the company paused major purchases or reduced parts of its bitcoin position.
Saylor signaled the return to buying activity Sunday with a social media post indicating that Strategy was returning to the market.
He followed that with another post Monday before the company disclosed the transaction.
Strategy’s ability to finance bitcoin purchases through equity issuance has been central to its treasury strategy.
When its shares trade at a premium to the value of the bitcoin backing them, issuing new stock can allow the company to increase bitcoin holdings without relying entirely on conventional debt.
The effectiveness of that model depends partly on investor demand for Strategy securities and the relationship between its market capitalization and net asset value.
That relationship has weakened from levels reached during the 2025 digital asset treasury boom.
Strategy’s enterprise market value-to-net asset value ratio was approximately 1.07 when the latest figures were reported.
Its shares also remain well below their 2025 highs.
MSTR has fallen approximately 63% over the past year despite bitcoin’s recent recovery.
The stock gained 6.3% last week to close Friday at $127.31.
Bitcoin rose around 1% during the same period but had gained more than 25% over the previous month.
The narrowing premium illustrates one challenge facing digital asset treasury companies.
Investors initially paid substantial premiums for publicly traded companies offering leveraged exposure to cryptocurrency holdings.
As more companies adopted similar strategies, those premiums compressed across much of the sector.
A lower premium can make equity-funded bitcoin accumulation less attractive because companies must issue more shares to raise the same amount of capital.
Strategy has responded by broadening its financing structure.
Under its Digital Credit Capital Framework, the company now uses several classes of preferred securities alongside common equity.
It has also established mechanisms for repurchasing securities and maintaining liquidity for dividends and interest obligations.
The company authorized a $1 billion repurchase program for digital credit securities, initially focused on STRC.
A separate $1 billion common-share buyback program was also established.
Strategy subsequently expanded its BTC Monetization Program to permit the sale of as much as $5 billion of bitcoin when necessary to support its cash reserve, preferred dividends, interest payments or securities repurchases.
That framework gives the company the ability both to accumulate and sell bitcoin depending on capital-market conditions.
The latest purchase shows that accumulation remains central to Strategy’s approach despite that added flexibility.
Corporate bitcoin treasury adoption has continued to spread.
Bitcoin Treasuries data cited by The Block show that 198 public companies now follow some form of bitcoin acquisition strategy.
Strategy remains in a different category from the rest because of the scale of its holdings.
Tether-backed Twenty One held 43,514 BTC, while Japan’s Metaplanet held about 43,000 BTC.
Bitcoin miner MARA held 35,577 BTC, and Bitcoin Standard Treasury Company held 30,021 BTC.
Even combined, those holdings remain far below Strategy’s position.
The company’s scale also means its purchases attract unusual attention in cryptocurrency markets.
A single weekly transaction can involve hundreds of millions of dollars, while its broader financing programs potentially provide billions more for future acquisitions.
Strategy’s latest purchase does not guarantee that accumulation will continue at the same pace.
The company now balances bitcoin buying with preferred-stock obligations, cash reserves and securities repurchases.
Market conditions also influence whether issuing additional common stock remains financially attractive.
For now, however, the company has clearly moved back into accumulation mode.
Adding 4,603 BTC during a single week lifted its holdings beyond 845,000 bitcoin and reinforced its position as the dominant corporate holder of the asset.
Strategy, formerly known as MicroStrategy, began purchasing bitcoin for its corporate treasury in 2020 under Executive Chairman Michael Saylor. The software company gradually transformed into a bitcoin-focused capital markets vehicle, financing purchases through cash, debt, convertible securities, common stock and several classes of preferred shares. Its strategy later inspired dozens of public companies to adopt digital asset treasury models involving bitcoin and other cryptocurrencies. Strategy introduced its Digital Credit Capital Framework in 2026 to manage preferred-stock obligations, cash reserves, bitcoin monetization and securities repurchases alongside continued BTC accumulation. The company’s shares often provide amplified exposure to changes in bitcoin prices but can also move independently because investors must consider financing costs, dilution, debt, preferred obligations and the premium or discount at which the stock trades relative to its underlying bitcoin holdings.
