Strategy raised $2 billion through stock sales last week as bitcoin’s 24% surge flipped its 840,447 BTC position back into profit after spending most of 2026 underwater.
Where the $2 billion went
According to Monday’s 8-K filing, Strategy sold 18.26 million MSTR shares between Aug. 17 and Aug. 23, directing the proceeds three ways.
It added $300 million to its USD Reserve, bringing that total to $5.1 billion.
It used $136.4 million to repurchase 1.43 million STRC preferred shares.
The remaining $1.59 billion went into a newly created liquidity pool called USD Cash.
No BTC buys
Strategy made no bitcoin purchases or sales during the week, leaving holdings unchanged at 840,447 BTC for a second straight week.
The company acquired those coins at an average price of $75,385, compared with bitcoin’s current price near $78,000, leaving it with roughly $2.4 billion in unrealized profit.
New USD cash pool gives management flexibility
Unlike the existing USD Reserve, which is restricted to covering preferred stock dividends and debt interest, the new USD Cash pool can be deployed freely for any bitcoin treasury purpose—from buying bitcoin to repurchasing shares or repaying convertible notes.
Combined with the USD Reserve, Strategy now holds $6.69 billion in total dollar liquidity, its largest cash buffer since launching its bitcoin treasury strategy.
