MicroStrategy Bought $3.28 Billion of US Dollars in August, Not Bitcoin
MicroStrategy raised $3.28 billion in August by promoting its personal inventory. It spent none of that cash on Bitcoin (BTC).
The firm purchased {dollars} as an alternative, and is poised to shut the month with more money, fewer cash, and a heavier dividend invoice.
What MicroStrategy Did With the Money Instead of Bitcoin
Four weekly filings present that MicroStrategy offered 31.3 million shares thus far throughout August. Not one greenback grew to become Bitcoin.
The money went into two piles:
- The USD Reserve grew from $4.0 billion to $5.10 billion.
- A model new pool known as USD Cash holds one other $1.59 billion.
That is $6.69 billion sitting in {dollars}. The reserve has one job, which is protecting dividends and debt curiosity. USD Cash is way looser.
“a individually designated pool of U.S. greenback liquidity that the Company might retain for future deployment for normal Bitcoin Treasury Company functions, which can embody buying Bitcoin…” the newest Strategy filing says.
So the choice to purchase is funded and written down. The firm merely has not used it.
The Selling Started in June and Never Stopped
MicroStrategy final purchased Bitcoin on June 22. It took 520 cash at $67,068 every.
Since that day it has offered 6,916 cash and acquired none. Two of these gross sales fell in August, shifting 3,328 BTC close to $64,000 a chunk.
Now examine the timing. Bitcoin trades close to $78,457 after a 22% climb in seven days, based on BeInCrypto information. Strategy’s common price is $75,385 a coin.
The firm offered low, then sat out the bounce. Its nine-week buying pause continues to be working.
A 2025 Bitcoin Raise That Became a Bill
Here is the half that explains the remaining. Strategy offered STRC most popular inventory in July 2025 and raised $2.47 billion. The acknowledged use of proceeds included shopping for Bitcoin.
STRC paid 9% a 12 months at launch. It pays 12% now. The shares additionally commerce below their $100 face worth.
So Strategy is shopping for them again at a reduction. It spent $458.4 million on 4.88 million STRC shares in August, partly funded by selling Bitcoin.
Every share retired kills a future dividend. Saylor mapped these stress factors in a Bitcoin credit risk model revealed this month.
Raising more money stays straightforward. Strategy’s shelf packages nonetheless maintain $44.9 billion of unused capability throughout 5 securities.
September asks an easier query. With Bitcoin again above its price foundation, will Strategy lastly spend some of that $6.69 billion on cash?
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