Strategy Inc (Nasdaq: MSTR), the bitcoin treasury company formerly known as MicroStrategy, raised $333.7 million in net proceeds from at-the-market MSTR Stock sales for the week of August 10-16, 2026, a filing dated August 17, 2026 shows. The company bought no bitcoin during the week, holding steady at 840,447 BTC.
Key Takeaways
- Strategy raised $333.7 million in net proceeds from MSTR Stock sales under its at-the-market program during the week of August 10-16, 2026.
- Bitcoin holdings remained unchanged at 840,447 BTC, with no purchases or sales recorded during the week.
- STRC Stock repurchases totaled 1,388,720 shares for $132.2 million under the Digital Credit Securities Repurchase Program.
- The USD Reserve, which backs preferred dividends and debt interest, reached $4.80 billion as of August 16, 2026.
- MSTR Stock proceeds funded $52.4 million in STRC dividends, $132.2 million in STRC buybacks and $149.1 million added to the USD Reserve.
What Happened?
Strategy disclosed the update in a filing with the U.S. Securities and Exchange Commission dated August 17, 2026, covering activity for the week of August 10-16, 2026. The filing detailed sales under the company’s at-the-market offering program, known as the ATM, alongside its weekly bitcoin purchase report, share repurchase activity and the balance of its USD Reserve.
Strategy sold 3,458,866 shares of Class A common stock, generating $333.7 million in net proceeds. No shares of the company’s four preferred securities, STRF (Strife), STRC (Stretch), STRK (Strike) and STRD (Stride) preferred stock, were sold under the ATM during the period. The company also reported zero bitcoin purchases for the week, a pause that stands out against the proceeds it raised from selling its own stock.
Strategy increased its USD Reserve by $150M and repurchased $132M of $STRC. This increased USD Duration by 41 days to 2.8 yrs and tightened STRC’s BTC Credit by 4 bps to 114 bps. As of 8/16/26, we hold ₿840,447 in our BTC Reserve and $4.8B in our USD Reserve. $MSTR…
— Strategy (@Strategy) August 17, 2026
MSTR Proceeds Fund Dividends, Buybacks and Reserve
The $333.7 million in MSTR Stock proceeds did not go toward new bitcoin purchases. The filing splits the money three ways: $52.4 million funded dividends on STRC Stock, the company’s Variable Rate Series A Perpetual Stretch Preferred Stock, $132.2 million funded STRC repurchases, and $149.1 million was added to the USD Reserve.
| Use of MSTR proceeds | Amount |
|---|---|
| STRC Stock dividends | $52.4 million |
| STRC Stock repurchases | $132.2 million |
| USD Reserve increase | $149.1 million |
| Total | $333.7 million |
Capacity remains substantial for future sales. STRC Stock has $17,510.8 million available for issuance, MSTR Stock has $21,702.7 million, STRD Stock has $4,014.8 million, STRK Stock has $2,100.0 million and STRF Stock has $1,619.3 million. The MSTR figure reflects combined room under the existing program and the $21.0 billion MSTR Increase Strategy announced on March 23, 2026, which activates once the existing program’s capacity is substantially depleted.
Bitcoin Holdings Unchanged at 840,447 BTC
Strategy’s aggregate bitcoin position held at 840,447 BTC as of August 16, 2026, unchanged from the prior week. The filing put the aggregate purchase price of that position at $63.36 billion, for an average purchase price of $75,385 per bitcoin.
Strategy’s bitcoin accumulation has typically moved alongside its ATM sales, making this week’s zero-purchase report notable against the company’s prior MSTR at-the-market sale activity. The pause leaves Strategy’s share of the roughly 21 million total bitcoin supply, detailed in global bitcoin supply data, unchanged for the period.
Preferred Stock Repurchases Continue Under Digital Credit Program
Strategy repurchased 1,388,720 shares of STRC Stock for $132.2 million during the week, the only security bought back under the program. STRF, STRK, STRD and MSTR Stock saw no repurchases. Under the Digital Credit Securities Repurchase Program, first announced June 29, 2026, $653.0 million in preferred stock purchasing capacity remains available, alongside a separate $1.0 billion in remaining capacity under the MSTR Stock repurchase program announced the same date.
Strategy maintains a US dollar reserve, the “USD Reserve,” intended to support the payment of dividends on Strategy’s preferred stock and interest on its outstanding indebtedness, according to the filing. That reserve stood at $4.80 billion as of August 16, 2026, a figure that includes expected cash proceeds from ATM shares sold but not yet settled.
The Bottom Line
This week’s filing shows a bitcoin treasury company redirecting stock sale proceeds inward. Every dollar of the $333.7 million raised from MSTR Stock went to servicing existing obligations, preferred dividends, preferred buybacks and the cash reserve that backs them, rather than expanding the 840,447 BTC position. That allocation pattern matters because it signals Strategy is, for now, prioritizing the stability of its preferred stock structure and debt service over accumulation.
The mechanics also show how tightly the ATM program and the repurchase program now interlock. The same MSTR sale that funded STRC dividends also funded STRC buybacks in the same week, effectively using new equity issuance to shrink and stabilize the preferred stock outstanding. With $21,702.7 million still available under the MSTR program and billions more across the preferred lines, Strategy retains substantial flexibility to resume bitcoin buying, fund further preferred activity, or both in future weeks.
