Crypto
Home›Crypto›Market Structure›Strategy boosts dollar liquidity as Bitcoin rally lift…
Strategy boosts dollar liquidity as Bitcoin rally lifts corporate treasuries
Strategy sold 18.26 million MSTR shares for about $2.01 billion in net proceeds between Aug. 17 and Aug. 23, then routed most proceeds into USD Reserve and a new USD Cash account rather than buying more Bitcoin.
Bitcoin and Ethereum surged last week amid falling Treasury yields, renewed US crypto optimism, and short liquidations that pushed digital assets to multi month highs, according to CryptoSlate. Bitcoin rose more than 20% to near $80,000, while Ethereum gained about 30% in its strongest weekly advance since May 2025.
The rally also highlighted a split between the companies behind crypto’s two largest corporate treasuries. Strategy, the largest corporate holder of Bitcoin, refrained from adding to its BTC position during the breakout, while BitMine Immersion Technologies, the largest ETH holding company, continued buying Ethereum into the rally.
CryptoSlate reports that Strategy used strength in capital markets to raise new cash rather than increase Bitcoin holdings. Between Aug. 17 and Aug. 23, the company sold 18.26 million MSTR shares for about $2.01 billion in net proceeds, directing $300 million into its existing USD Reserve, using $136.4 million to repurchase STRC preferred shares, and placing most of the remainder into a newly created USD Cash account.
As of Aug. 23, that dollar liquidity totaled $6.69 billion, including $5.10 billion in the USD Reserve and $1.59 billion in the new cash pool. CryptoSlate says the company described the additional liquidity as giving it more flexibility to respond to market conditions, including potential dislocations in Bitcoin and its own securities.
Latest closeBitcoin $78,925.56 ▲1.5%|Ethereum $2,474.85 ▲0.5%