Key Insights:
- Strategy news shows the company sold 6,916 BTC and later bought 4,603 BTC back at an average price nearly $18,000 higher.
- The Bitcoin treasury company now holds 845,050 BTC while reducing net leverage to zero and increasing its cash reserves.
- Despite the costly rotation, Strategy remains committed to its Bitcoin treasury strategy and capital markets approach.
Hot Strategy news shows the company just pulled a classic rookie move this summer, selling low and buying high. Despite the move, the company still sits on a mountain of Bitcoin while the stack has gotten lighter.
The Bitcoin treasury firm Strategy sold about 6,916 BTC between late June and early August at prices ranging from $59,256 to $64,262. That averages near $62,081 per coin. The company cashed in roughly $429–$432 million from those sales.
Following the offloading, Strategy bought back 4,603 BTC last week, at an average of $80,318 a piece for $369.7 million. That is about $17,800 more per coin, or roughly 29% higher, and marks the company’s first purchase since June. The purchase ends a 10-week buying pause.
Bitcoin price spent the selling window from June 22 into early August grinding in a shaded range mostly under $66,000, with the average sale line sitting near $62,500.
The price then ripped higher in mid-to-late August, punching through $75,000 and $80,000 in a sharp recovery. Data from Santiment analytics shows that Strategy bought right into that recovery zone, with the $80,318 average purchase line sitting above the recent price action and well above its overall cost basis of $75,412.
The round trip left Strategy roughly 2,345 BTC lighter than before the summer sales started, even after the buyback. On paper, the price gap works out to an estimated $84 million opportunity cost on the coins that rotated.
Strategy News: Bitcoin Holdings Hit 845,050
Following the 2,345 BTC loss, Total Strategy Bitcoin holdings now sit at 845,050 BTC, still worth more than $66 billion at recent prices.
Strategy has also boosted its USD cash by $29 million and repurchased $152 million of STRC preferred stock in the same week. Net leverage has hit 0.0%. The company used the summer to raise cash through MSTR share sales. It was able to shore up its dollar reserves and clean up preferred obligations while Bitcoin has traded in the low $60s.
These moves have strengthened Strategy’s balance sheet despite a drop in its Bitcoin count.
The purchase wasn’t funded by cash. It was funded by selling more shares. Strategy sold 4.53M new MSTR shares via ATM, raising $602.8 million. Following the boost to reserves, Strategy now sits on $6.71 billion USD in assets, which consist of $1.61 billion in cash and $5.1 billion USD in reserves.
These moves align with Strategy’s Digital Credit Capital Framework. It entails bolstering USD reserves for preferred stock dividends, improving BTC credit metrics, and providing flexibility for future Bitcoin treasury operations.
What this Means for Strategy Moving Ahead?
Strategy continues its aggressive Bitcoin accumulation strategy while also bolstering its cash position and reducing leverage to zero.
Buying more BTC, adding cash, and buying back some of its preferred stock (STRC) improves its credit profile and financial strength of STRC. This also supports MSTR by extension.
This is a classic Strategy behavior approach: treat Bitcoin as the primary reserve asset and use capital markets activity to keep accumulating it while managing the preferred equity side.
Critics like Lookonchain called the timing poor (selling the bottom and buying back 29% higher), but the official announcement frames the moves as positive for the balance sheet and STRC metrics.
Meanwhile, Bitcoin price increased by 0.1% in the last 24 hours to trade at $77,545. The asset hit an intra-day high of $79,229 but now trades near the intra-day low of $77,751.
