Michael Saylor’s Strategy Scoops Up $357M in Bitcoin Despite Investor Backlash

From August 18 to 24, the firm purchased 3,081 Bitcoin for $356.9 million, paying an average of $115,829 per coin. This brings Strategy’s total holdings to 632,457 BTC, valued near $46.5 billion. The company’s average entry price across all purchases is $73,527, according to BitcoinTreasuries. Data also shows the firm has been averaging nearly 800 BTC in daily buys.

The latest acquisition has delivered a 25% return year-to-date in 2025, a reminder of the firm’s success in timing its Bitcoin plays during major market swings.

Equity Sales Provide the Cash

Funding for the purchase came primarily from stock sales. In its latest SEC filing, Strategy disclosed raising just under $310 million by selling 875,301 common shares. Additional proceeds came from its preferred share programs: $21 million from STRK, $23.7 million from STRF, and $100,000 from STRD. In total, the firm generated over $350 million — nearly identical to the size of the week’s Bitcoin buy.

Despite investor unease over dilution, Strategy still holds authorization to issue $16.7 billion more in shares under its $21 billion at-the-market offering.

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Investor Backlash Over Dilution Policy

Not everyone is pleased. Saylor had previously committed to avoiding share sales when Strategy’s stock traded below 2.5 times its modified net asset value (mNAV). But with MSTR currently valued at less than two times mNAV, the company’s decision to move ahead with new issuance has drawn criticism.

Following the disclosure, MSTR stock fell more than 4% in premarket trading Monday. Bitcoin also dipped, sliding 2.7% to roughly $111,500.

Big Picture

Despite short-term market pressure, Strategy’s relentless accumulation has cemented its place as the dominant corporate Bitcoin holder. While the firm faces growing scrutiny over how it funds its buys, its long-term bet on Bitcoin shows no signs of slowing.

The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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