Strategy Announces New $1.59 Billion Dollar Fund That Can Be Used To Buy More Bitcoin

Strategy Inc. has established a new flexible U.S. dollar liquidity pool called “USD Cash,” which management can use to acquire more bitcoin and for other capital actions, while increasing its restricted USD Reserve to $5.10 billion.

In an 8-K filed with the U.S. Securities and Exchange Commission on August 24, 2026, the company announced the creation of USD Cash as a new component of its Digital Credit Capital Framework. As of August 23, 2026, the new account held $1.59 billion. Combined with the USD Reserve of $5.10 billion, Strategy now has approximately $6.69 billion in designated dollar liquidity.

The existing USD Reserve policy remains unchanged and is restricted to supporting preferred-stock dividends and interest on outstanding indebtedness, with a board-mandated minimum equal to at least 12 months of those obligations. USD Cash is more flexible. Strategy described it as a “separately designated pool of U.S. dollar liquidity that the Company may retain for future deployment for general Bitcoin Treasury Company purposes.” Permitted uses include:

• Acquiring bitcoin

• Paying declared cash dividends on preferred stock and interest on debt

• Repurchasing MSTR common stock or preferred stock

• Repaying, repurchasing, or redeeming convertible notes

• Increasing the USD Reserve

• Other similar Bitcoin Treasury Company purposes

The company said this gives management the ability to respond more quickly to market conditions, including dislocations in bitcoin or its own securities.

Michael Saylor, Strategy’s founder and executive chairman, noted: “USD Cash enhances our Digital Credit Capital Framework, and is separately designated for general Bitcoin Treasury Company purposes, including acquiring BTC, paying preferred dividends & interest, repurchasing MSTR/preferred stock, repaying converts, and increasing USD Reserve.”

The new balances come from recent at-the-market sales of Class A common stock. Strategy sold 18,261,118 shares for net proceeds of about $2.0065 billion. Of that, $136.4 million funded the repurchase of 1,431,212 shares of STRC, $300 million was added to the USD Reserve, and the remaining roughly $1.57 billion seeded the new USD Cash account. After the STRC buybacks, $516.6 million remains authorized under the Digital Credit Securities Repurchase Program. The separate $1.0 billion MSTR common-stock repurchase authorization is still fully unused.

Strategy reported no bitcoin purchases or sales between August 17 and August 23, 2026. Holdings stood at 840,447 BTC as of August 23, with an aggregate purchase price of $63.36 billion and an average cost of $75,385 per bitcoin. The company continues to hold roughly 4% of the total bitcoin supply and reports near-zero net leverage. Saylor said the actions further strengthen STRC, citing an updated USD Duration of 3.9 years (up 414 days) and an improved STRC BTC Credit spread under the company’s modeling assumptions.

The Digital Credit Capital Framework, adopted in late June 2026, formalized the USD Reserve policy, raised the STRC dividend rate, authorized preferred and common stock repurchase programs, and created a limited BTC monetization program. The new USD Cash layer adds operational flexibility on top of that structure, allowing Strategy to move more quickly to buy bitcoin, support preferred securities, manage debt, or top up the restricted reserve without needing fresh board approval for each use within the stated purposes. The company continues to hold substantial remaining ATM capacity across its common and preferred offerings.