Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Michael Saylor, CEO of MicroStrategy (now Strategy), has signaled further significant Bitcoin purchases, reinforcing the company’s aggressive digital asset treasury strategy, even as the firm successfully navigated the dismissal of a class-action lawsuit that had challenged its accounting practices. The developments underscore Strategy’s continued commitment to its Bitcoin-centric model and remove a notable legal overhang.
Bitcoin Accumulation Strategy Continues
Saylor recently posted a chart from the independent “Saylor Tracker” platform on August 31, depicting Strategy’s historical Bitcoin holdings, accompanied by the comment, “Bitcoin is still on sale.” This type of social media activity has historically preceded formal purchase announcements from the company.
Observers note a pattern of new Bitcoin purchase disclosures filed every Monday for the past three weeks, suggesting this trend could extend into September. Strategy’s last reported acquisition involved adding 3,081 BTC at a cost of $356.87 million, equating to an average price of $115,829 per coin.
This recent purchase elevated the company’s total Bitcoin reserves to 632,457 BTC, with an estimated current value of $68.6 billion. The firm has largely funded its extensive Bitcoin acquisitions through equity markets, raising $5.6 billion in initial public offerings (IPOs) in 2025 alone, representing approximately 12% of all U.S. listings for the year.
Despite this aggressive fundraising, Strategy asserts that its MSTR shares have consistently outperformed the so-called “Magnificent Seven” technology stocks on a year-over-year basis.
Legal Overhang Removed
Coinciding with Saylor’s latest Bitcoin signal, Strategy also saw the withdrawal of a class-action lawsuit that had been pending since May. The lawsuit, filed by investors, alleged that the company had misled shareholders by overstating the benefits of adopting fair-value accounting for its digital asset holdings, which allows digital assets to be marked at market prices each quarter.
Bloomberg reported that the plaintiffs dismissed the case “with prejudice,” a legal term indicating that they are barred from refiling the same claims in the future. This decision eliminates a significant legal challenge for Strategy and could establish a useful precedent for other corporations holding Bitcoin as a treasury reserve.
Reinforcing a Dual Approach
By simultaneously signaling further Bitcoin accumulation and resolving a key legal dispute, Strategy has solidified its dual approach of leveraging capital markets to acquire digital assets while defending its innovative Bitcoin-as-treasury model. The events reinforce the company’s position as a leading corporate Bitcoin holder and its long-term strategy in the digital asset space.