By keeping STRC below par, the market is essentially forcing Saylor's hand into destroying bitcoin-per-share as well as making him unable to buy BTC
By creating a new "USD Cash" balance, he's now for the first time dipping his toes into explicit "market timing".
What he has done instead until now was basically buying BTC as soon as possible whenever he had cash, and then he was forced to de-lever (ie sell MSTR or BTC) at rather bad prices as a punishment for his fomo'ing at local highs.
The fact that he now has a USD Cash balance means he'll be able to try to time the market on his purchases and sales, which you can either see as good (if you think he'll be rather conservative) or catastrophically bad (considering his historical 'top blasting' urge)
https://x.com/saylor/status/2091859021456146659
X (formerly Twitter)
Michael Saylor (@saylor) on X
Strategy increased USD Reserve to $5.10B, established additional USD Cash of $1.59B, and repurchased $136M of $STRC. As of 8/23/26: Strategy holds ~4% of Total BTC Supply and has ~0% Net Leverage.…
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3August 24, 2026 5.4K 15
