Strategy sold 18.26 million shares of MSTR between August 17 and August 23, 2026, through an at-the-market program, raising approximately $2 billion in cash. Despite the new capital injection, the company held back and did not purchase any Bitcoin during that one-week period.
By the end of the week, their total crypto holdings remained locked at 840,447 BTC. This stash of assets was purchased at an average price of $75,385 per coin, bringing the total value of the company’s Bitcoin reserves to $63.36 billion. Instead of putting the new capital into the market, Strategy chose to set up a new liquidity account called “USD Cash”.
As of August 23, this USD Cash account was already funded with $1.59 billion in fresh capital. This is not just an ordinary money vault, but liquid ammunition deliberately prepared for swift execution.
Two Different Sets of Rules
This new liquidity account has a vastly different role compared to the existing $5.1 billion USD Reserve. Until now, the flow of funds in the USD Reserve has been restricted by rigid rules, only allowed to pay preferred dividends and debt interest expenses. In contrast, USD Cash operates as a pool of dollars without any specific restrictions.
Without rigid limitations, the company can use this $1.59 billion fund for various tactical actions. This money is free to be used for buying up Bitcoin, paying dividends if urgent, repurchasing MSTR shares or preferred shares on the exchange, or even paying off convertible bonds. Management noted that this account provides them with the agility to react quickly to market dynamics.
Management stated that this money serves as a primary buffer in the event of sudden price dislocations in the Bitcoin market or in Strategy’s own securities. Their strategy is straightforward: sell shares when the price is high, gather cash, and then wait for the right momentum window to accumulate Bitcoin once again.
Trillion-Dollar Government Maneuver
The decision to hoard cash occurred alongside a market price trend that pushed Bitcoin past $78,000 this week. This price increase immediately boosted Strategy’s asset portfolio, returning the company’s books to the profit zone after being under pressure throughout last summer.
This surge in Bitcoin’s price was supported by fundamental factors behind the scenes. US Treasury Secretary Scott Bessent is reportedly in a position to draw down nearly $1 trillion from the Treasury General Account. This massive amount of funds is planned to be used to buy back long-term government bonds.
This potential injection of liquidity into the banking system was immediately perceived by investors as a positive signal. The plan became one of the main drivers boosting Bitcoin’s price, providing new fuel for the entire crypto asset ecosystem.
While many parties joined the euphoria of chasing prices, Strategy maintained its rhythm. With the $1.59 billion liquidity account ready in hand, they are just waiting for the market to offer a brief window to pull the trigger on purchases. Reported by Decrypt.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
