Strategy Sells $309.9 Million Worth of MSTR Shares via ATM

Strategy has sold 875,301 MSTR shares through its at-the-market offering program, generating $309.9 million in net proceeds and leaving $16.73 billion available for future issuance. The company has also sold STRK, STRF, and STRD shares, with no STRC shares sold. Strategy's bitcoin holdings have increased to 632,457 BTC with a total purchase cost of $46.5 billion. The company's mNAV is currently 1.65x. MSTR is down 4.4% during pre-market hours.

Strategy Inc. (MSTR), a company known for its aggressive Bitcoin accumulation strategy, has recently expanded its cryptocurrency holdings. The company announced that it sold 875,301 MSTR shares through its at-the-market offering program, generating $309.9 million in net proceeds [1]. This sale, part of the $21 billion common stock program established in May 2025, left $16.7 billion available for future issuance.

In addition to the MSTR shares, Strategy sold preferred stock through multiple at-the-market (ATM) programs during the period. The company sold 210,100 STRK shares for $21 million notional value with net proceeds of $20.4 million, 237,336 STRF shares for $23.7 million notional value with net proceeds of $26.6 million, and 944 STRD shares for $0.1 million in both notional value and net proceeds [1]. The total net proceeds from all ATM sales during the period reached $357 million.

Using these proceeds, Strategy acquired 3,081 Bitcoin at an aggregate purchase price of $356.9 million, representing an average purchase price of $115,829 per Bitcoin [1]. This acquisition brought the company’s total Bitcoin holdings to 632,457 BTC, with a cumulative purchase cost of $46.5 billion and an average price of $73,527 per Bitcoin [2].

As of August 24, 2025, Strategy’s Bitcoin reserves are valued at approximately $70 billion, generating an unrealized profit of nearly $23.5 billion despite recent market volatility [2]. The company maintains a long-term investment strategy, aligning with institutional adoption trends and corporate crypto buying power.

Despite the company’s successful accumulation efforts, MSTR’s stock performance has not mirrored the strength of its holdings. Shares fell 19% in August 2025 [4], despite the company’s successful accumulation efforts. Some analysts, including John Deaton, have speculated that the stock could rally to $500 or beyond, but such forecasts depend heavily on macroeconomic conditions and broader market sentiment [5].

Strategy’s actions have influenced market sentiment and liquidity, positioning the company as one of the largest corporate holders of Bitcoin. Analysts suggest that the company’s approach may set a precedent for other corporations to consider similar investment strategies [6]. However, the distinction between forecasted outcomes and actual performance remains crucial, as speculative projections should not be conflated with realized financial results.

The company’s sustained commitment to Bitcoin reflects both confidence in the asset’s long-term potential and a strategic response to evolving market dynamics. As Strategy continues to expand its Bitcoin portfolio, its influence on corporate adoption and market behavior is expected to grow, reinforcing its role as a key player in the cryptocurrency sector [2].

References:
[1] https://www.investing.com/news/cryptocurrency-news/strategy-acquires-3081-bitcoin-432SI-4208795
[2] https://www.ainvest.com/news/bitcoin-news-today-strategy-adds-3-081-btc-356-9m-purchase-115-829-average-price-2508/
[4] https://www.ainvest.com/news/bitcoin-news-today-strategy-buys-3-081-bitcoin-356-9m-price-dip-2508/
[5] https://www.ainvest.com/news/bitcoin-news-today-microstrategy-buys-3-081-btc-342m-holdings-hit-46-5b-cost-2508/
[6] https://bravenewcoin.com/insights/michael-saylor-teases-another-bitcoin-buy-as-strategy-extends-its-treasury-accumulation-streak