MicroStrategy resumed Bitcoin (BTC) accumulation after a 10-week hiatus, buying 4,603 BTC for $369.7 million at an average price of $80,318 per coin.
The purchase is the company’s first major acquisition since late June. It follows weeks of speculation sparked by Executive Chairman Michael Saylor’s “We’re ₿ack” post on X.
MicroStrategy Restarts Bitcoin Buying
Strategy acquired the coins between August 24 and August 30, according to a filing published Monday. Share sales paid for every dollar of it.
The company sold 4,531,421 Class A shares across the week and raised $602.8 million in net proceeds. Bitcoin claimed $369.7 million. Another $151.8 million repurchased 1,557,177 STRC preferred shares, while $50.7 million covered STRC dividends and $30 million went to cash.
Saylor had signaled a return to buying over the weekend. Monday’s numbers confirmed it.
A Shift From Capital Preservation
Through July and August, MicroStrategy acted as a net seller of Bitcoin. It shed coins, expanded dollar reserves, and serviced obligations tied to its preferred stock rather than adding to holdings.
Monday reverses the direction, though not the priority. The $151.8 million buyback extends a pattern set when the firm sold coins to support STRC in early August.
Dollar reserves finished the week at $5.10 billion, with $1.61 billion in cash and net leverage at zero.
Why Investors Are Watching
MicroStrategy now holds 845,050 BTC bought for $63.73 billion, an average of $75,412 each. Against Monday’s Bitcoin market price near $79,087, the treasury sits 4.9% above cost.
The new tranche does not. At $80,318 per coin, last week’s buy is already roughly 1.5% underwater, a $5.7 million paper loss inside seven days.
Investors will watch whether share sales keep funding purchases at this pace. Every tranche dilutes existing holders, and MSTR must trade above net asset value for the mechanism to pay off.
The next filing will reveal whether last week opened a cycle or stood alone.
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