Strategy Buys 430 BTC Despite Market Slump
Strategy (formerly MicroStrategy) has announced its third straight week of Bitcoin accumulation, even as both Bitcoin and its MSTR stock continue to slide to fresh lows.
Key Highlights:
- Strategy purchased 430 BTC between Aug 11–17.
- The firm now holds 629,376 BTC — nearly 3% of total supply.
- Purchase worth $51.4M at an average $119,666 per BTC.
- MSTR stock fell over 2% in premarket trading.
$51.4M Bitcoin Purchase
In a press release, Strategy confirmed it had bought 430 BTC for $51.4M, at an average entry of $119,666 per coin. This brings its total holdings to 629,376 BTC, acquired at an average cost of $73,320 — worth about $46.15B today.
The acquisition was funded through equity sales, with the company raising $19.3M, $19M, and $12.1M from STRK, STRF, and STRD share offerings, according to its SEC filing.
This marks Strategy’s third consecutive weekly purchase. Just last week, it acquired 155 BTC for $18M. Co-founder Michael Saylor had hinted at this move on Sunday, cryptically posting “Insufficient Orange” on X. 
Updated Capital Raise Guidance
The company also revised its Equity At-The-Market (ATM) guidance to create more flexibility in its capital strategy:
- mNAV above 4.0x → actively issue MSTR shares to buy BTC.
- mNAV between 2.5x–4.0x → opportunistically issue shares for BTC purchases.
- mNAV below 2.5x → funds will go toward debt payments and equity dividends.
- mNAV below 1.0x → consider issuing credit to repurchase MSTR shares.
Bitcoin & MSTR Stock Slide
The timing of this buy comes amid a market correction:
- Bitcoin has dropped nearly 5% in the past week, sliding under $115K.
- MSTR stock has fallen 8% in five days, currently trading near $358, down from $366.
Given Strategy’s heavy Bitcoin exposure, its stock often mirrors BTC’s movements. Recently, $9T asset manager Vanguard cut its stake in the company by 10%, adding to bearish sentiment.
Still, MSTR remains up 22% YTD and 174% over the past year, while Bitcoin has also gained about 22% year-to-date. 
