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<a href="https://xpertsstudio.com/these-2-bitcoin-derivatives-signals-could-trigger-a-long-squeeze-analyst/” title=”These 2 Bitcoin Derivatives Signals Could Trigger a Long Squeeze: Analyst”>Bitcoin
Aug 31, 2026
3min read
byIshtiyaq Hussain
forBlockchainReporter
MicroStrategy bought 4,603 BTC between August 24–30, 2026 for $369.7 million at an average price of $80,318, raising its treasury to 845,050 BTC purchased for $63.73 billion with an average cost of $75,412 as Bitcoin trades near $78,000. The acquisition was funded by $602.8 million raised via an ATM equity program, with some proceeds used to repurchase STRC preferred stock, and the restart of purchases after a two‑month pause signals continued institutional conviction that may be bullish for crypto adoption and markets.
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Strategy, the Nasdaq-listed bitcoin treasury company led by Executive Chairman Michael Saylor, acquired 4,603 bitcoin for $369.7 million last week, its first purchase since late June, lifting its total position to 845,050 BTC, according to a Form 8-K filing dated August 31, 2026 with the U.S. Securities and Exchange Commission. The disclosure, part of the company’s regular weekly update, ends a roughly two-month pause in accumulation and arrives as bitcoin trades near $78,000 following its strongest month in nearly two years.
The filing shows Strategy bought the coins between August 24 and August 30 at an average price of $80,318 each. The aggregate purchase price of $369.7 million, inclusive of fees and expenses, brings the company’s cumulative holdings to 845,050 bitcoin acquired for $63.73 billion at an average cost of $75,412 per coin. The new coins were added at a price about 6.5 percent above that long-run cost basis, a reminder that the company is still willing to pay up to expand its position after pausing for two months. Strategy remains the largest publicly traded corporate holder of the asset.
Funding the Purchase Through Stock Sales
The acquisition was financed through Strategy’s at-the-market, or ATM, offering program. The 8-K reports that the company raised $602.8 million in net proceeds from sales of Class A common stock during the week, splitting the deployment into four pieces: $369.7 million toward the bitcoin purchase, $151.8 million to repurchase shares of its variable-rate STRC preferred stock, $50.7 million to cover dividends on that preferred stock, and $30.0 million added to its cash account. The STRC repurchases continue a buyback program Strategy announced on June 29 that still has about $364.8 million of remaining capacity, according to the filing.
The company also reported a U.S. dollar reserve of $5.10 billion and a separate cash balance of $1.61 billion as of August 30. Strategy has funded its bitcoin accumulation since 2020 through a combination of equity, preferred shares and convertible debt, and the latest tranche follows that same playbook rather than drawing down the company’s existing bitcoin or cash reserves.
Ending a Two-Month Pause in Accumulation
The purchase ends a stretch in which Strategy did not add to its position, with its previous bitcoin acquisition reported in late June. The return to buying follows the company’s largest single week of accumulation, when it acquired roughly $1 billion of bitcoin in April, and it indicates that management still sees room to expand the treasury even with the asset trading well above the company’s average cost basis.
Saylor has repeatedly framed the company as a long-term holder rather than a trader, telling investors to measure the strategy in years and recently describing a four-year minimum holding period for MSTR investors. Resuming purchases at current prices is consistent with that stated posture, and it reopens a debate among investors about how aggressively the company should keep adding exposure.
Market Context and What Remains Unsettled
The disclosure lands in the middle of a broad crypto rally, with bitcoin up more than 30% in August and on track for its best month since November 2024, while MSTR shares moved higher in premarket trading after the announcement. Because Strategy’s purchases and financing activities are closely watched across the sector, the return to buying is likely to be read by other treasury-style holders as a signal of continued institutional conviction.
The filing does not commit the company to future purchase amounts or a schedule, and the pace of accumulation will continue to depend on how much capital Strategy can raise through its ATM program and other instruments. Saylor has argued the treasury can absorb prolonged price weakness, pointing to models suggesting the company could last for decades even at zero bitcoin returns, but the decision to buy rather than hold cash reflects a continued bet on the asset at today’s levels. Investors will now watch whether Strategy sustains purchases in its next weekly filing and whether the pace of ATM share sales accelerates to fund additional buying.
Source: cryptorank.io