Bitcoin treasury firm Strategy reallocates $2B from MSTR stock into USD reserves and liquidity

Strategy sold roughly $2 billion of MSTR shares without touching its 840,447 BTC stack, boosting its USD Reserve to $5.1 billion and setting up a new USD cash pool for future treasury moves including buybacks, dividends and potential BTC purchases.

Bitcoin treasury company Strategy has sold approximately $2 billion worth of MSTR shares over the past week to reweight its balance sheet toward cash, according to an 8-K filing with the U.S. Securities and Exchange Commission.

The firm offloaded 18,261,118 MSTR shares between Aug. 17 and Aug. 23 and did not buy or sell any bitcoin during the period. Of the net proceeds, $136.4 million funded repurchases of Strategy's STRC preferred stock, $300 million increased its USD Reserve to $5.1 billion, and the remaining $1.59 billion was allocated to a newly created "USD Cash" liquidity account.

Strategy described USD Cash as a separate pool of dollar liquidity for "general Bitcoin Treasury Company purposes," including potential bitcoin purchases, preferred stock dividends, interest on debt, repurchases of MSTR or preferred stock, redemption of convertible notes, and further USD Reserve increases. The move adds a flexible cash layer on top of the ring-fenced USD Reserve under the firm’s Digital Credit Capital Framework.