Strategy raised $2.0065 billion by selling 18,261,118 MSTR common shares from Aug. 17 through Aug. 23, made no Bitcoin purchases or sales, repurchased 1,431,212 STRC variable-rate preferred shares for $136.4 million and allocated $1.5701 billion to flexible USD Cash. The company also transferred $300 million to its USD Reserve, ending with $5.10 billion in the reserve and $1.59 billion in USD Cash, including expected proceeds from unsettled at-the-market share sales. Bitcoin purchases are one permitted use of USD Cash, alongside preferred dividends, debt interest, share repurchases, convertible-note transactions and other Bitcoin Treasury Company purposes, but Strategy disclosed no purchase trigger or fixed deployment threshold. The company held 840,447 BTC at an aggregate cost of $63.36 billion, or $75,385 per coin. The common-share issuance implied a 4.59% increase in basic shares outstanding, based on 415.929 million shares reported on Aug. 23 and an estimated pre-week count of 397.668 million. STRC closed at $97.15 on Aug. 25, below its $100 stated amount, prompting scrutiny from Bitcoin critic Peter Schiff over the preferred stock's ability to support future Bitcoin purchases without a higher dividend. Strategy retained $516.6 million in preferred-security repurchase authorization and $1 billion for MSTR repurchases.