Strategy buys $357M in Bitcoin, holdings top 632,000 BTC
Tysons Corner–based Strategy’s latest Bitcoin purchase saw 3,081 BTC acquired for $357 million between August 18 and 24, according to its Aug. 25 SEC Form 8-K. This Bitcoin purchase, funded via net proceeds from its at-the-market equity offering, had an average price of $115,829 per coin. The move lifts Strategy’s corporate treasury Bitcoin holdings to 632,457 BTC, valued at over $70 billion.
This marks the company’s third BTC purchase in August and brings total acquisitions for the month to 3,666 BTC—a slowdown compared to July’s 31,466 BTC. Strategy’s proprietary Bitcoin Yield metric rose to 25.4% year-to-date. The firm also raised its full-year Bitcoin Yield target from 25% to 30% and increased its annual Bitcoin gain goal from $15 billion to $20 billion.
Trading at a roughly 60% premium to net asset value, Strategy can issue equity at higher prices than its underlying Bitcoin value. This premium supports further equity-financed Bitcoin purchases and underpins long-term treasury growth.
Bullish
Strategy’s continued Bitcoin purchase via equity-financing signals strong institutional demand and reduces available supply. Corporate treasury accumulations historically correlate with positive price momentum, as seen in MicroStrategy’s previous buying cycles. The ability to issue equity at a premium and reinvest in BTC creates a self-reinforcing acquisition loop. In the short term, this moderate August buy pace may offer price support and boost trader sentiment. Over the long term, Strategy’s rising Bitcoin Yield targets and sustained treasury growth point to sustained bullish pressure on the market.