[Digital Today reporter Yoonseo Lee] Strategy resumed accumulating bitcoin after 2 months by buying 4,603 BTC for $370 million.

Cointelegraph reported on Aug. 31 local time that the purchase expanded the company’s bitcoin holdings to 845,050 BTC.

An 8-K filing submitted to the U.S. Securities and Exchange Commission showed Strategy bought the tranche at an average $80,318 per bitcoin. Cumulative purchases total $63.3 billion, at an average purchase price of $75,413. The transaction marked the first company-level bitcoin purchase since mid-June, when Strategy bought 1,587 BTC after putting in about $100 million.

The financing came through sales of MSTR common shares. Of net proceeds from a $602 million common share sale, the company allocated $30 million to expanding dollar cash-like assets aside from funds for bitcoin purchases, and used $151.8 million to repurchase STRC perpetual preferred shares. It effectively paired bitcoin buying with liquidity defense and preferred-share management.

The market focus extended to the company’s cash management approach, not just the resumption of purchases. Nasdaq-listed MSTR shares rose less than 1 percent in premarket trading on Aug. 31. They had fallen more than 7 percent in the prior session on Aug. 28. STRC was up 0.44 percent at $97.33 in premarket trading at the same time, 2.67 percent below its target par value of $100.

STRC is one of Strategy’s key tools for raising funds for bitcoin purchases. But if the trading price falls below par, its capacity to raise funds through issuing STRC could weaken. The possibility has also been raised that the company may need to further raise its nominal dividend rate to sustain demand from buyers.

This trend also links to earlier changes in capital policy. In an 8-K filing submitted on June 29, Strategy disclosed a capital management framework that could use proceeds from bitcoin sales as dividend resources. In the same filing, it also raised STRC’s annual dividend rate to 12 percent. The company said it sold 32 BTC in early June, the first reported bitcoin sale since a 2022 tax-loss transaction.

Michael Saylor (마이클 세일러), co-founder and board chairman, posted “We’re Back” on X, formerly Twitter, shortly before the resumption of purchases, suggesting a restart of accumulation. Saylor has previously hinted at major financial strategy announcements with similar short messages on weekends.

The purchase is drawing attention for showing how Strategy pairs bitcoin accumulation with capital management, rather than simply expanding holdings. The company did not use common stock sale proceeds solely for bitcoin purchases, splitting funds between cash reserves and STRC buybacks. The points to watch now are whether STRC’s price returns to par and whether Strategy continues additional bitcoin purchases while maintaining the current structure.