Key Highlights
- Strategy’s MSTR shares declined approximately 4.2% to close at $138.74 even as the firm resumed its Bitcoin acquisition strategy following a 10-week hiatus.
- The company acquired 4,603 Bitcoin units for approximately $369.7 million, paying an average of $80,318 per token.
- Strategy’s cumulative Bitcoin position now reaches 845,050 BTC, purchased at an aggregate average of $75,412 per unit.
- Executive Chairman Michael Saylor publicly defended the right to promote Bitcoin, characterizing it as a commodity asset class.
- The Senate will conduct a critical procedural vote on the CLARITY Act on September 15, requiring 60 votes to proceed.
Shares of Strategy (MSTR) experienced a decline of roughly 4.2% to settle at $138.74 on September 4, coinciding with the company’s announcement that it had resumed accumulating Bitcoin following approximately 10 weeks without purchases.
Throughout the trading session, MSTR fluctuated between a daily low of $135.41 and a peak of $144.39, with trading volume reaching approximately 26.3 million shares. The stock has experienced a 56% reduction in value over the trailing 12-month period.
During the period spanning August 24 through August 30, Strategy acquired 4,603 Bitcoin units, deploying roughly $369.7 million at an average acquisition price of $80,318 per token. The transaction details were made public via an SEC filing dated August 31.
This acquisition expanded Strategy’s Bitcoin treasury from 840,447 BTC to a total of 845,050 BTC. The enterprise has invested a cumulative $63.73 billion in building this position, reflecting an average entry price of $75,412 per Bitcoin.
Strategy funded this most recent acquisition through the sale of its MSTR common equity, which yielded approximately $602.8 million in net capital during this timeframe. Additionally, the firm allocated $151.8 million toward repurchasing STRC preferred shares and bolstered its unrestricted cash reserves by $30 million.
Saylor Addresses Bitcoin Advocacy Rights
CEO Phong Le explained that the company’s Bitcoin purchasing decisions are driven by capital cost considerations rather than spot price movements, emphasizing that favorable financing terms can justify acquisitions at $80,000 even following previous sales executed near $60,000.
Meanwhile, Executive Chairman Michael Saylor used social media platforms to articulate his views on Bitcoin promotion rights. “In America, you don’t need a license to discuss Bitcoin, advocate for it, or publicly recommend owning it,” Saylor declared on September 4.
Saylor further characterized Bitcoin as a commodity asset rather than a security instrument, a classification that corresponds with the Commodity Futures Trading Commission’s established interpretation. He emphasized that existing legislation already prohibits fraudulent activities and market manipulation.
The executive’s statements did not appear to address any particular legal proceeding or regulatory action. The CLARITY Act was not explicitly mentioned in his social media commentary.
Senate Prepares for CLARITY Act Procedural Vote
On Capitol Hill, the CLARITY Act is approaching a pivotal procedural vote scheduled for September 15 at 2:15 p.m. ET. Advancing the legislation to the debate and amendment phase requires securing a minimum of 60 affirmative votes.
With Republicans controlling 53 Senate seats, bipartisan backing from Democrats becomes essential to meet the threshold. Potential divisions within the Republican conference could further complicate passage efforts.
The proposed legislation aims to establish a regulatory framework that distributes digital asset oversight responsibilities between the SEC and CFTC. Digital commodities such as Bitcoin would typically fall under CFTC jurisdiction for spot market regulation, while assets meeting investment contract criteria would remain under SEC supervision.
On September 3, the National Sheriffs’ Association modified its stance on the legislation from opposition to neutrality, eliminating one obstacle prior to the upcoming vote. NSA President Sheriff Troy Wellman and Executive Director Justin Smith communicated this policy shift through correspondence addressed to Senate leadership.
Senator Cynthia Lummis expressed appreciation for this development and urged the Senate to move forward with the bill. Legislative negotiations continue around specific provisions concerning ethics standards, stablecoin reward mechanisms, and liability protections for developers who do not maintain custody of user funds.
Should the Senate successfully pass the September 15 procedural hurdle, the legislation would still require a final passage vote, and any modifications to the House-approved version would necessitate additional House authorization before presidential consideration.
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