'We're back': Strategy buys another 4,603 bitcoin for $369.7 million as holdings hit 845,050 BTC

Bitcoin treasury company Strategy (MSTR) acquired 4,603 BTC for approximately $369.7 million between Aug. 24 and Aug. 30 at an average price of $80,318 per bitcoin, according to an 8-K filing with the U.S. Securities and Exchange Commission on Monday.

The Michael Saylor-led firm now holds a total of 845,050 BTC — worth around $66.1 billion — bought at an average price of $75,412 per bitcoin for a total cost of around $63.73 billion, including fees and expenses.

To put that in perspective, Strategy's holdings are now the equivalent of more than 4% of bitcoin's 21 million supply cap and imply around $2.34 billion of paper profits at current prices of above $78,000.

The latest acquisition was funded by proceeds from at-the-market sales of Strategy's Class A common stock, MSTR. Last week, the company sold 4,531,421 MSTR shares for approximately $602.8 million.

The company spent $369.7 million on bitcoin (BTC), used another $151.8 million to repurchase 1,557,177 shares of STRC preferred stock, and allocated $50.7 million to STRC dividends. The remaining $30 million was added to its USD Cash account, which stood at $1.61 billion as of Aug. 30, while the company's USD Reserve was $5.1 billion, according to the filing.

As of Aug. 30, $19.09 billion worth of MSTR shares remained available for issuance and sale under the ATM program.

'We're back'

The acquisition marks a shift from recent weeks in which the firm trimmed or held its bitcoin stack steady.

Under its new Digital Credit Capital Framework, Strategy limited its USD reserve to covering preferred stock dividends and interest payments. The company also authorized a $1 billion program to repurchase its digital credit securities, initially focusing on STRC, as well as a separate $1 billion buyback of common stock. It later expanded its BTC Monetization Program to allow up to $5 billion in bitcoin sales to fund the reserve, dividends, interest payments, and securities repurchases.

DAT activity

According to Bitcoin Treasuries, 198 public companies have adopted some form of bitcoin acquisition model. Tether-backed Twenty One, Metaplanet, MARA, and Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company make up the rest of the top five, with 43,514 BTC, 43,000 BTC, 35,577 BTC, and 30,021 BTC, respectively.

However, the value of many of the cohort's shares is down significantly from their summer 2025 peaks as their market cap-to-net asset value ratios have contracted. MSTR, for example, is currently down 63% with an enterprise mNAV of 1.07, according to the firm.

Strategy's stock gained 6.3% last week, closing on Friday at $127.31. Bitcoin gained about 1% over the same period, but the largest crypto asset by market cap is up over 25% in the last month.