Strategy Inc., the world’s largest Bitcoin treasury company, announced Monday that it has increased its USD Reserve to $5.10 billion, established a new $1.59 billion USD Cash liquidity pool, and repurchased $136.4 million of its STRC preferred stock.
The moves come after the firm raised approximately $2.01 billion by selling 18.26 million shares of its Class A common stock (MSTR) under its at-the-market offering program between August 17 and August 23, 2026.
According to the company’s Form 8-K filing, $300 million of the proceeds went toward boosting the USD Reserve, $136.4 million funded the repurchase of 1.43 million STRC shares, and the balance created the new USD Cash account.
As of August 23, the company’s total dollar liquidity stood at $6.69 billion. Its Bitcoin holdings remained unchanged at 840,447 BTC, as per BitcoinTreasuries.net data, acquired at an aggregate cost of $63.36 billion or an average of $75,385 per Bitcoin. These holdings represent roughly 4% of Bitcoin’s total 21 million supply, and the company reported near-zero net leverage.
New Flexibility Under the Digital Credit Capital Framework
The newly established USD Cash is designated for general Bitcoin treasury purposes. These include acquiring additional bitcoin, paying preferred dividends and interest, repurchasing MSTR or preferred shares, repaying convertible notes, and further increasing the USD Reserve.
The existing USD Reserve policy remains restricted to supporting preferred stock dividends and interest obligations. Strategy stated that the added flexibility will allow management to respond more quickly to market conditions, including dislocations in bitcoin or the company’s securities.
Under its $1 billion Digital Credit Securities Repurchase Program announced in June 2026, Strategy has now completed approximately $483.4 million in preferred stock buybacks, leaving $516.6 million still available. A separate $1 billion authorization for MSTR common-stock repurchases remains fully unused.
The company has not purchased or sold any Bitcoin for the second consecutive week, continuing a pause in acquisitions that began earlier in the summer while it focused on building cash reserves and strengthening its preferred securities.
The announcement reinforces Strategy’s shift toward active capital management within its Digital Credit Capital Framework, balancing long-term Bitcoin exposure with greater operational liquidity.
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