Michael Saylor’s Strategy Stopped Buying Bitcoin For 10 Weeks. Now It’s Back With A $370M Purchase.

Michael Saylor's Strategy has resumed buying Bitcoin after a 10-week pause, spending nearly $370 million as the cryptocurrency's recovery toward $80,000 gives the world's largest corporate Bitcoin holder more room to continue its accumulation strategy.

Between Aug. 24 and Aug. 30, Strategy bought 4,603 Bitcoin for $369.7 million at an average price of $80,318 per token, according to an SEC filing. The purchase increased the company's holdings to 845,050 Bitcoin, acquired for a combined $63.73 billion at an average cost of $75,412 per token.

The latest purchase was Strategy's first since June, ending a 10-week stretch in which falling cryptocurrency prices and pressure on the company's shares weakened the financing model that had supported its aggressive Bitcoin buying. The Wall Street Journal reported that Strategy had paused purchases and sold a small amount of Bitcoin while working to strengthen its finances during the downturn.

Funding for the latest acquisition came largely through Strategy's at-the-market common-stock program, with the company raising about $602.8 million in net proceeds from share sales during the week. Of that amount, $369.7 million went toward Bitcoin purchases, while another $151.8 million was used to repurchase roughly 1.56 million shares of its STRC preferred stock, the SEC filing showed.

Alongside the Bitcoin purchase and preferred-share buyback, Strategy allocated $50.7 million for preferred-stock dividends and transferred another $30 million into its cash account. Strategy said the cash pool has now increased to $1.61 billion as management builds additional liquidity alongside its enormous cryptocurrency holdings.

Greater cash reserves have become part of Strategy's effort to strengthen its balance sheet after the crypto downturn increased pressure on both its stock and financing model. The company said last week that a separate U.S. dollar reserve had reached $5.1 billion, providing money that can be used for preferred-stock dividends, debt obligations and other corporate expenses without requiring an immediate sale of Bitcoin.

Conditions have improved somewhat as Bitcoin recovered from its recent lows, with the cryptocurrency climbing above $80,000 last week for the first time since May. Bitcoin was up roughly 28% in August, its strongest monthly advance since November 2024, Reuters reported, following a softer dollar and renewed demand for alternative assets after U.S. Treasury measures aimed at easing strains in the government bond market.

Despite the cryptocurrency's recovery, Strategy shares remain far below the richer valuations reached earlier in the Bitcoin cycle, when the company's market capitalization traded at a much larger premium to the value of its Bitcoin holdings. That premium had allowed Strategy to issue shares at favorable valuations and use the proceeds to purchase additional Bitcoin, creating the financing engine behind much of Saylor's accumulation strategy, Yahoo Finance reported.

Shares of Strategy rose in premarket trading Monday following the disclosure of the new purchase, although the stock remains down sharply over the past year. Bitcoin was trading near $78,500 Monday and remained about 38% below its October 2025 record above $126,000, according to Barron's.