Strategy has added 4,603 Bitcoin for $369.7 million at an average price of $80,318 per BTC, funded by a week of Class A common share sales that raised $602.8 million after commissions. According to its Aug. 31 Form 8-K, the purchases occurred between Aug. 24 and Aug. 30. Strategy now holds 845,050 BTC acquired for a combined $63.73 billion, or an average of $75,412 per coin. The company said net leverage reached 0.0%.
At the time of writing, Bitcoin traded near $78,400, making the holding worth about $66.25 billion and implying an unrealized gain of roughly $2.52 billion, or about 4%, against the company's reported average cost. Strategy sold 4,531,421 MSTR shares, directing $369.7 million to Bitcoin, $151.8 million to repurchases of STRC preferred shares, $50.7 million to STRC dividends and $30 million to increase its USD Cash account.
The purchase partially reversed four earlier Bitcoin sales totaling 6,916 BTC. Those sales removed 1,363 BTC on June 30 for about $81 million, 2,225 BTC on July 6 for about $135 million, 1,638 BTC on Aug. 3 for about $105 million, and 1,690 BTC on Aug. 10 for about $109 million. Buying 4,603 BTC offset about 66.6% of the prior reductions, leaving a 2,313 BTC gap. Returning to the pre-sale coin count would require buying about $185.8 million more at the latest average price, depending on market conditions.
Separately, a filing and investor briefing highlighted that the roughly $13,400 BTC Floor being marketed for STRC is not a guarantee of recovery or solvency. It represents the Bitcoin price at which Strategy's illustrative STRC coverage ratio reaches 1.0x. STRC closed at $97.33 on Aug. 28, yielding about 12.33% on its $12 annualized dividend. Strategy's calculation used covered notional of about $11.28 billion and 840,447 BTC valued at $77,004, producing a 5.74x rating and a floor near $13,415 to $13,421.
The analysis also showed that spending down cash and other USD assets could raise the modeled floor materially. Depleting the $1.59 billion USD Cash pool without reducing debt or preferred notional would lift the threshold to about $15,313, while depleting all $6.69 billion of USD assets could push it toward $21,381. The filing stressed that stress can emerge well before legal recovery thresholds, with capital-market access, available cash and discretionary allocation decisions shifting costs among MSTR holders, STRC holders and the Bitcoin reserve.
Related reporting confirmed Michael Saylor hinted at the acquisition a day earlier. Strategy ended the period with a $5.10 billion USD Reserve and $1.61 billion in USD Cash. The company reported no sales of its STRF, STRC, STRK or STRD preferred shares during the latest week.
