Strategy, the world’s largest publicly traded Bitcoin holder, has raised approximately $2 billion through MSTR common stock sales while holding its Bitcoin purchases steady.
According to a filing with the US Securities and Exchange Commission (SEC), the company sold 18.26 million MSTR shares between August 17 and August 23 through its at-the-market offering program.
Despite raising substantial funds, Strategy did not purchase any additional Bitcoin during the week.
The company’s Bitcoin holdings remained at 840,447 BTC, acquired for approximately $63.36 billion at an average purchase price of $75,385 per Bitcoin.
The company also reported no Bitcoin sales during the period.
Strategy used part of the proceeds to repurchase approximately 1.43 million STRC preferred shares for $136.4 million and added another $300 million to its existing US dollar reserve.
The remaining proceeds were directed to a newly established US dollar cash account, which held $1.59 billion as of August 23.
Together, Strategy’s two cash pools totaled approximately $6.69 billion, including its existing $5.1 billion reserve.
Strategy said the new cash account provides management with greater flexibility to respond to changing market conditions.
The funds can be used for several purposes, including future Bitcoin purchases, preferred-stock dividend payments, debt obligations and securities repurchases.
The company initially established its US dollar reserve in December 2025 with $1.44 billion to support preferred-stock dividends and interest payments.
Strategy subsequently increased its cash reserves as it sought to strengthen its financial position while maintaining its long-term Bitcoin strategy.
The company’s US dollar reserve increased from $900 million at the end of May to $5.1 billion as of August 23.
For now, Strategy has maintained its Bitcoin holdings while building significant cash reserves that could provide additional flexibility for future capital allocation and potential BTC purchases.
