Strategy breaks 10-week Bitcoin pause with $370 million purchase, lifting total holdings to 845,050 coins
Strategy (NASDAQ: MSTR), formerly MicroStrategy, ended a 10-week buying pause in late August, acquiring 4,603 Bitcoins ($BTC) for $370 million and pushing its cumulative holdings to 845,050 coins now valued at $68.5 billion. Those holdings exceed both the company's market cap of $47.3 billion and its enterprise value of $50.3 billion. The NAV discount and Bitcoin's distance from its all-time high are the two numbers in focus.
Key takeaways
- Strategy ended a 10-week buying pause in late August by acquiring 4,603 Bitcoins for $370 million, raising its total holdings to 845,050 coins.
- The company's 845,050 Bitcoins are valued at $68.5 billion, exceeding both its $47.3 billion market cap and $50.3 billion enterprise value, producing a discount to net asset value.
- CEO Phong Le said Strategy's earlier sale of roughly 7,000 Bitcoins in March and August, at average prices between $60,000 and $65,000, covered preferred dividends and reduced debt rather than signaling a change in conviction.
- Bitcoin is up roughly 30% over the past month but remains 36% below its all-time high of approximately $126,000 reached last October.
- Executive chairman Michael Saylor has maintained that Bitcoin could reach $21 million within 20 years, the thesis driving the company's accumulation strategy.
Strategy (NASDAQ: MSTR), formerly MicroStrategy, ended a 10-week buying pause in late August, acquiring 4,603 Bitcoins ($BTC) for $370 million and pushing its cumulative holdings to 845,050 coins now valued at $68.5 billion. Those holdings exceed both the company's market cap of $47.3 billion and its enterprise value of $50.3 billion. The NAV discount and Bitcoin's distance from its all-time high are the two numbers in focus.
The selling context
The pause needed explaining, because Strategy had been a net seller. The company moved roughly 7,000 Bitcoins in March and August at average prices between $60,000 and $65,000. CEO Phong Le said the disposals covered preferred dividends and reduced debt, not a shift in conviction. Strategy has been building its Bitcoin inventory for six years and holds the position of world's largest corporate holder. Executive chairman Michael Saylor has maintained that Bitcoin could reach $21 million within 20 years, a thesis that drives the company's accumulation strategy. The August purchase does not fully offset the earlier sales in coin count, but it reverses the direction of on-chain flow out of corporate custody.
Setup and headwinds
Bitcoin is up roughly 30% over the past month but sits 36% below its all-time high of approximately $126,000, reached last October. The current holdings, at $68.5 billion, sit above the company's $47.3 billion market cap, producing a discount to net asset value the tape has already priced in. Elevated Treasury yields and rising interest rates compete with Bitcoin as a capital destination. That pressure blunts the debasement hedge argument in the near term even as the U.S. national debt has recently crossed $40 trillion, a figure that could eventually pressure the Federal Reserve toward strategies that weaken dollar purchasing power and lift Bitcoin demand. The rate dynamics that determine the timing remain unsettled. The supply-side catalyst the market tracks further out is the Bitcoin halving expected in 2028, which will halve mining rewards and reduce new coin issuance.
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Filed by the digital assets desk of MarketPR on September 3, 2026. Source: finance.yahoo.com. Indicative figures are not investment advice.