By Isaac • August 17, 2026 11:07 am •
Strategy did something last week that would have sounded strange at almost any earlier point in its Bitcoin era: It raised hundreds of millions of dollars, strengthened its balance sheet, and left its BTC stack completely untouched.
The company sold 3.46 million shares of MSTR common stock for $333.7 million during the week that ended August 16. But none of that money went toward another Bitcoin purchase.
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Instead, Strategy directed the proceeds toward its preferred stock, dividend obligations, and a rapidly growing cash reserve.
According to Strategy’s announcement, the company used roughly $132.2 million to repurchase 1,388,720 shares of its variable-rate preferred stock, STRC. It committed another $52.4 million to STRC dividend payments.
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