A bitcoin treasury company, Strategy, has sold approximately $2 billion in MSTR shares between August 17 and 23, according to an 8-K filing submitted to the SEC on Monday. The proceeds were allocated to repurchasing preferred stock, expanding its USD Reserve, and establishing a new USD Cash liquidity account, while its bitcoin holdings remained unchanged at 840,447 BTC.
The company directed $136.4 million toward repurchasing STRC preferred stock, added $300 million to its USD Reserve—raising it to $5.1 billion—and allocated $1.59 billion to the new USD Cash liquidity account. Strategy’s bitcoin holdings, valued at $65.8 billion based on current prices, were acquired at an average cost of $75,385 per bitcoin, representing approximately 4% of bitcoin’s 21 million supply cap.
The move follows a $2.4 billion paper profit on its bitcoin holdings, with bitcoin trading at $78,161. MSTR shares rose 1.3% in pre-market trading. Strategy’s 8-K filing described the USD Cash account as a “separately designated pool of U.S. dollar liquidity,” a step analysts at Bernstein linked to broader market trends, though they cautioned against assuming direct causation between U.S. Treasury actions and bitcoin’s recent rally.
Matt Cole, CEO of fellow bitcoin treasury company Strive, expressed confidence that the bitcoin bear market is over, though his statement reflects personal conviction rather than confirmed analysis. Strategy’s future bitcoin purchases, he noted, may depend on STRC shares returning to their $100 nominal value, a condition not guaranteed.
Over 197 public companies now have bitcoin acquisition models, with the top five entities holding between 30,021 and 43,514 BTC. Other significant bitcoin holders include Tether-backed entities such as Twenty One, Metaplanet, MARA, and the Bitcoin Standard Treasury Company.
Written by Rebecca Shaw
Industry Desk
