- Strategy Inc. bought 3,081 BTC ($357M), bringing holdings to 632,457 BTC.
- Purchases were funded mostly by stock sales, sparking dilution concerns.
- Japan’s Metaplanet (+103 BTC) and Remixpoint (+41.5 BTC) also boosted their Bitcoin reserves.
Michael Saylor’s Strategy Inc. is back at it—loading up on more Bitcoin despite a shaky market backdrop. The firm disclosed on August 25 that it had purchased 3,081 BTC between August 18–24, spending nearly $357 million at an average of $115,829 per coin. With this buy, the company’s total stash climbs to 632,457 BTC, worth about $46.5 billion at an average cost of $73,527 each.
It wasn’t just cash reserves funding the spree. Most of the new Bitcoin was bought using proceeds from fresh stock sales. In the same week, Strategy sold over 875,000 shares of MSTR common stock, raising $309.9 million, plus another $47 million through preferred share programs. The timing has drawn criticism since MSTR’s price was trading below the company’s own mNAV (modified net asset value)—a threshold Saylor had once pledged not to breach.
SEC Filing Reveals Funding Breakdown
The firm’s SEC 8-K filing confirmed the details:
- $309.9M raised from common stock sales.
- $21M from STRK preferred shares (8% dividend).
- $23.7M from STRF preferred shares.
- $100K from STRD shares.
Altogether, those moves provided just enough firepower to cover the week’s Bitcoin buys. Strategy still has billions in authorization left for additional stock issuances under various programs, including a fresh $4.2B STRC preferred plan approved in July.
But the stock sales aren’t sitting well with everyone. Critics argue that tapping equity when shares trade below target valuation puts existing investors at risk of dilution. MSTR dropped over 4% in premarket Monday, alongside Bitcoin’s 2.7% dip back toward $111,500.
Other Institutions Are Buying Too
Strategy isn’t alone. Japan’s Metaplanet revealed its own Bitcoin purchase on Monday—103 BTC worth $11.7M. That lifts its total to 18,991 BTC, about $2.2B in value. The timing is notable since Metaplanet is set to join the FTSE Japan Index in September, boosting visibility. Eric Trump, an adviser to World Liberty Financial, is also expected to attend its next shareholder meeting in Tokyo.
Meanwhile, Tokyo-listed Remixpoint quietly added 41.5 BTC (~$4.6M), pushing its holdings to 1,273 BTC, placing it among the top 40 corporate holders worldwide.
Final Takeaway
Strategy’s aggressive buying underscores Saylor’s conviction, but the funding method leaves some uneasy. Issuing stock below target ratios risks undercutting shareholders even as the firm doubles down on its Bitcoin-first strategy. On the flip side, steady institutional demand—from Wall Street giants to Japanese corporates—suggests Bitcoin’s long-term bid remains intact, despite short-term jitters.
