Strategy Buys 4,603 BTC as Holdings Reach $65B
Strategy bought 4,603 BTC for about $369.7 million between 24 and 30 August, at an average price of $80,318. The purchase lifted Strategy’s Bitcoin holdings to 845,050 BTC, worth roughly $65 billion, with an average cost of $75,412 per BTC including fees.
The acquisition followed the sale of about 7,000 BTC at prices between $60,000 and $65,000. Chief executive Phong Le said the transactions reflected capital costs, financing needs and preferred-stock dividends rather than short-term Bitcoin price movements. The company paused Bitcoin purchases for nearly 10 weeks, reduced net debt from about $7 billion to zero and increased cash reserves to nearly $7 billion.
Strategy plans to continue accumulating Bitcoin while retaining the option to sell holdings for dividends or financing. It funded the latest purchase mainly through capital-markets activity and still had about $19.09 billion available under its MSTR share-sale programme. Strategy’s stock gained 6.3% over the previous week, compared with a 1% rise in Bitcoin.
Bernstein kept an Outperform rating but cut its Strategy price target from $450 to $350, while forecasting Bitcoin at $150,000 by mid-2027. BTC was trading near $76,766, down 1.70% over 24 hours. The renewed corporate Bitcoin buying may support sentiment, but potential equity dilution, future BTC sales and preferred-stock obligations remain risks for traders.
Neutral
The latest Bitcoin purchase is modestly supportive because it signals continued institutional demand and reinforces Strategy’s role as a major corporate BTC holder. Its large remaining share-sale capacity could provide further funding for Bitcoin purchases, which may improve long-term sentiment.
However, the price impact is balanced by several factors. Strategy recently sold about 7,000 BTC, showing that its holdings can be used for financing and dividend obligations. Future equity issuance may dilute shareholders rather than create direct spot-market demand, while preferred-stock payments and potential BTC sales could add supply pressure. Bitcoin was also down 1.70% over 24 hours at the time of reporting. As a result, the news may offer short-term sentiment support but is unlikely to establish a sustained BTC price trend on its own.