The largest corporate holder of Bitcoin in the world, Strategy (NASDAQ: MSTR) has told the SEC that it has created a $1.59 billion pool that it can spend on Bitcoin whenever it wants.
The new cash pool that the Saylor-led firm disclosed to the SEC on August 24, 2026, could also be used for dividends, buybacks or debt, depending on board discretion.
What is Strategy’s new dollar reserve?
Strategy named its new dollar reserve its “USD Cash” account, and it is different from the original USD reserve it created as part of the Digital Credit Capital Framework it revealed in late June 2026.
As of August 23, Strategy’s USD Cash has a $1.59 billion balance, while its USD Reserve sits at $5.10 billion. Put together, Saylor’s firm now has about $6.69 billion in cash dollars.
The big difference between both dollar stacks is what management can actually do with each one. The $5.10 billion in the firm’s USD Reserve is specifically designated to pay dividends on its preferred-stock and interest on debt.
The USD Cash, on the other hand, can be used to buy Bitcoin, pay dividends and interest, repurchase MSTR or preferred shares, repay or redeem convertible notes, or even top up the USD Reserve itself, per Strategy’s 8-K.
Did Strategy sell Bitcoin this week?
For the period that ended last Friday and reported by Strategy on Monday, August 24, 2026, the firm said it did not sell any Bitcoin. The $2 billion estimate that the firm raised came from selling 18,261,118 shares of MSTR common stock through its at-the-market program.
The raise was split three and directed into three routes:
- $136.4 million to buyback 1,431,212 shares of its STRC preferred stock.
- $300 million into the USD Reserve.
- $1.57 billion went to the new USD Cash line.
Per the Digital Credit Capital Framework stipulations, Strategy still has the green light to direct another $516.6 million into STRC buybacks at the board’s discretion. A separate $1 billion authorization to repurchase MSTR common sits untouched.
When will Strategy start buying Bitcoin again?
Strategy bought no bitcoin during the week ending August 23, and its last purchase was back in June, the 8-K confirms. Its holdings stand at 840,447 BTC, bought for an aggregate $63.36 billion at an average of $75,385 a coin. That is close to 4% of all bitcoin, at what the company reports as near-zero net leverage.
The cash-building followed a rough stretch. STRC, the variable-rate preferred that Strategy leans on to raise money at par, sank as low as $71.25 in late June before recovering to around $95 by late August, according to bitcointreasuries.net. When bitcoin was underwater earlier in the summer, some observers had warned the firm might be forced to dump coins to cover its preferred obligations.
The timing helps. Bitcoin’s rally past $77,000 pushed Strategy’s stack back above what it paid for the first time in about three months, Cryptopolitan reported, and MSTR closed at $119.25 on August 21 after a roughly 28% weekly jump. The stock traded near $123 in pre-market on August 24, per Google Finance.
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