Strategy (MSTR) stock fell about 4.2% to $138.74 on Sept. 4, 2026, even as the company resumed Bitcoin purchases after a roughly 10-week pause. The shares traded between an intraday low of $135.41 and a high of $144.39, with about 26.3 million shares changing hands. MSTR remains down 56% over the past 12 months.
According to an Aug. 31 SEC filing, Strategy purchased 4,603 BTC between Aug. 24 and Aug. 30 for approximately $369.7 million at an average price of $80,318 per coin. The acquisition lifted total holdings from 840,447 BTC to 845,050 BTC, acquired for an aggregate $63.73 billion at an average cost of $75,412 per BTC. The company financed the purchase through MSTR common stock sales that produced about $602.8 million in net proceeds, while also repurchasing $151.8 million of STRC preferred stock and adding $30 million to unrestricted dollar reserves.
CEO Phong Le said Strategy evaluates Bitcoin purchases based on cost of capital rather than price alone, noting financing conditions can make buying at $80,000 sensible even after earlier sales closer to $60,000. Executive Chairman Michael Saylor separately defended Bitcoin advocacy on social media, writing: “In America, you don’t need a license to discuss Bitcoin, advocate for it, or publicly recommend owning it. Bitcoin is a commodity, not a security. Fraud and manipulation are illegal. Bitcoin advocacy is free speech.”
Additional disclosures show the summer was not a one-way accumulation. Strategy sold 6,916 BTC across the summer of 2026, including a 3,588 BTC tranche to fund digital credit dividends. The later 4,603 BTC repurchase left a net reduction of 2,313 BTC over the period. Around Aug. 3, Strategy had raised its dollar reserve by $250 million to $4.0 billion; by Aug. 31, U.S. dollar cash stood at $1.61 billion.
In Washington, the CLARITY Act faces a procedural vote on Sept. 15 at 2:15 p.m. ET, requiring 60 votes to advance. Republicans hold 53 Senate seats, meaning the bill needs Democratic support. The legislation would divide digital asset oversight between the SEC and CFTC, with digital commodities such as Bitcoin generally under CFTC spot-market authority. The National Sheriffs’ Association shifted its position from opposition to neutral on Sept. 3, and Senator Cynthia Lummis called on the Senate to advance the bill. Lawmakers are still negotiating provisions around ethics, stablecoin rewards, and developer protections. Even if the Sept. 15 motion passes, the bill would require final passage and possible House approval before reaching the president.
