MicroStrategy bought 4,603 bitcoin for roughly $369.7 million, at an average price of $80,318 per coin. The purchase, disclosed Friday, ends a 10-week stretch where the company didn't add to its stack. It's the first sign of renewed accumulation after a pause that saw the firm build cash and tend to its preferred stock.
A pause spent building cash
During the pause, the company prioritized cash reserves and supported its preferred securities. It temporarily halted regular bitcoin buys. Saylor hinted at renewed buying with a 'We're back' post on X. The timing suggests the company saw a price it liked.
The balance sheet after the buy
As of Aug. 30, Strategy holds 845,050 bitcoin and $6.71 billion in USD assets. Net leverage sits at 0.0%. The company also added $29 million to its cash position and repurchased $152 million of its STRC preferred stock. That's a notable shift from the summer months.
A summer of selling
In July and August, the company actually sold bitcoin, expanded dollar reserves, and focused on managing obligations tied to its preferred stock offerings. That made the latest purchase a clear reversal. The company remains the world's largest publicly traded corporate bitcoin holder.
What investors are watching
Bitcoin trades well above Strategy's historical average acquisition cost, so the buy isn't a distress signal. The open question is whether this marks the start of another sustained buying cycle or a one-off purchase. The next weekly disclosure will show if the pace continues.
