Saylor Turns Buyer Again With 4,603 Bitcoin After A Summer Of Selling

Strategy bought 4,603 Bitcoin(BTC) for $369.7 million last week, ending a two-month pause and lifting Michael Saylor‘s treasury to 845,050 coins.

Key Points:

• Strategy paid an average of $80,318 per coin for the tranche, acquired between Aug. 24 and Aug. 30.
• Share sales raised $602.8 million, with the balance funding preferred stock buybacks, dividends and cash.
• Bitmine added 53,501 Ether over the same week, stretching its buying run to 65 consecutive weeks.

Strategy Bitcoin Purchase Breakdown

The company disclosed the purchase in a Form 8-K filed Monday with the U.S. Securities and Exchange Commission, which put the average price at $80,318 for coins bought between Aug. 24 and Aug. 30. Filings show the full position cost $63.73 billion, an average of $75,412 a coin. That stack now equals more than 4% of the 21 million Bitcoin that will ever exist.

Strategy paid for it by selling 4,531,421 Class A shares through its at-the-market program for net proceeds of $602.8 million, then splitting the money four ways.

Another $151.8 million went toward repurchasing 1,557,177 shares of STRC preferred stock, $50.7 million covered dividends on that series, and $30 million topped up a cash account that closed the week at $1.61 billion.

Saylor Signal And Bitmine Ether Buying

Saylor posted “We’re Back” on X a day before the filing appeared, a teaser that split observers over what he actually meant. Chief Executive Phong Le had already said in August that buying would restart before the end of 2026, pushing back on talk of a retreat.

The timing matters because the firm spent its summer selling coins rather than adding them.

Bitcoin trades above $78,000, leaving the company roughly $2.34 billion above its cost basis, a paper gain of about 3.6% on a position built over five years. Net leverage stands at zero.

Bitmine Immersion Technologies drew the opposite lesson from the same downturn, adding 53,501 Ether(ETH) last week and stretching a buying run that has now lasted 65 consecutive weeks. The firm chaired by Tom Lee holds 5,901,112 tokens, or close to 4.9% of supply, against a stated target of 5% of all Ether. Trackers still put its unrealized loss near $5.1 billion.

Strategy Summer Selling In Context

Strategy broke a four-year refusal to sell in late May, parting with 32 coins to fund preferred dividends, and the disposals grew from there. A sale of 3,588 coins for about $216 million in early July ranked as the largest in company history.

Across May through August it sold 6,948 coins at roughly $62,250 each, then bought back at a price about 29% higher, leaving the treasury 2,345 coins lighter than before the selling began. Its mNAV slipped under 1.0 during that stretch, meaning the market valued Strategy below the Bitcoin sitting on its own balance sheet. Investors have not seen that discount fully close.

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Source: yellow.com