Strategy has sold over $2 billion of its own MSTR stock, allocating the majority of the proceeds to a newly established ‘USD Cash’ account intended for general treasury purposes. The company reported the sale of 18,261,118 shares for $2.01 billion net last week, according to an 8-K filed Monday.
Of the total proceeds, $136.4 million was used to repurchase Strategy’s preferred stock (STRC), and $300 million was added to its existing USD Reserve. The remaining $1.57 billion was placed into the newly created USD Cash account. This account is designated for a broad range of treasury functions, including the potential acquisition of Bitcoin, payment of dividends and interest, stock repurchases, and debt repayment.
The USD Cash account, which stood at $1.59 billion as of August 23, 2026, is distinct from Strategy’s USD Reserve, which held $5.10 billion on the same date. The USD Reserve is primarily designated for covering preferred dividends and interest on debt. The new USD Cash account, however, carries no such restriction and is designed to allow management to respond more quickly to market conditions, such as dislocations in the markets for bitcoin or Strategy’s securities, Strategy said.
Strategy’s Bitcoin holdings remained unchanged at 840,447 BTC as of August 23, 2026, acquired at an average price of $75,385 per BTC. The company has not purchased Bitcoin since June and has not sold any for the past two weeks, having disposed of 6,948 BTC for approximately $432.5 million since May.
At the time of the report, Bitcoin was trading around $78,400, making Strategy’s BTC holdings worth approximately $65.9 billion. This marks a significant improvement from a week prior, when Bitcoin was trading at $63,553, resulting in an unrealized loss on Strategy’s holdings. In July, with Bitcoin near $58,000, the company faced a larger unrealized loss.
The repurchase of STRC preferred stock involved 1,431,212 shares, leaving $516.6 million available under the $1 billion STRC repurchase program announced on June 29. A separate $1 billion authorization for MSTR stock repurchases remains untouched.
Strategy’s decision to sell its own stock rather than its Bitcoin holdings for liquidity purposes, coupled with the establishment of a flexible cash account, indicates an active approach to treasury management. The recent rally in Bitcoin has also substantially improved the company’s overall financial position, turning previous unrealized losses into gains.
Why This Matters
The materials describe a narrow update: Strategy sold 18,261,118 shares of MSTR for $2. The exact timing of the ‘last week’ stock sale relative to the August 23rd reporting date.
Broader Context
Source materials place the factual news in this context: Strategy raised just over $2 billion selling its own shares last week without touching its Bitcoin, according to an 8-K filed Monday, and put most of the proceeds into a liquidity account it created the same day.
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