CoinEx News: Strategy bought 4,603 BTC for $369.7 million from Aug. 24 to Aug. 30, ending a 10-week pause. The money came from selling 4.53 million MSTR shares, which raised $602.8 million. Strategy used $151.8 million to repurchase STRC preferred shares, $50.7 million for STRC dividends, and $30 million to add cash, leaving $369.7 million for Bitcoin. Since late May, it had sold 6,948 BTC at an average price near $62,250. After this purchase, its holdings remain 2,345 BTC below the level before it began selling.

The reason is simple: MSTR recovered from a June low near $82 to $132.95 on Aug. 31, reopening Strategy’s equity-funding window because a higher share price lets it raise cash with fewer new shares. Strategy’s flywheel works when MSTR trades at a sufficient premium to the value of its Bitcoin holdings: it can issue shares to buy BTC and increase Bitcoin per diluted share if the added BTC outweighs dilution; when that premium shrinks while dividends and debt still require funding, issuing shares becomes costly and limited BTC sales may be more practical. This restart is a financing signal, not unconditional BTC bullishness.