Michael Saylor has introduced a clear four-year holding requirement for Bitcoin investors, stating that "If you're a short-term price predictor, you're a trader, I don't really have much useful wisdom for you." According to Saylor's framework, digital capital should be held for approximately four years, while digital money requires four days and digital currency needs four hours. As reported by 99Bitcoins, Saylor emphasizes that "My advice is: don't invest in Bitcoin unless you're going to hold it for more than four years. Ideally, hold it for 10 years." His rationale centers on the 200-week moving average, which he notes Bitcoin has traded above for roughly 91% of the network's history, treating dips below this benchmark as noise rather than trend reversals.
Strategy raised $333.7 million through the sale of 3.46 million shares of common stock during the week ended August 16, as reported in a Monday filing with the U.S. Securities and Exchange Commission. The company used $132.2 million of proceeds to repurchase 1,388,720 shares of its variable-rate preferred stock, STRC, and allocated $52.4 million for STRC dividends. Most significantly, Strategy added approximately $149.1 million to its U.S. dollar reserve, bringing the total to $4.80 billion as of August 16. This strategic move extends the company's USD duration to 2.8 years, providing substantial financial flexibility for future operations. As reported by Strategy, the company framed these moves as "extending the company's financial runway rather than expanding its bitcoin exposure."
Despite the substantial capital raise, Strategy maintained its Bitcoin holdings at 840,447 BTC, which were originally acquired for $63.36 billion at an average price of $75,385 per bitcoin, including fees and expenses. The company made no Bitcoin purchases or sales during the reporting period between August 10 and August 16, demonstrating its commitment to maintaining its position as the world's largest publicly listed Bitcoin holder. Following the latest transactions, Strategy has $653 million remaining under its preferred-stock repurchase program and $1 billion available under its MSTR common-stock repurchase program. The decision not to buy Bitcoin last week came immediately after two consecutive weeks of BTC sales totaling 1,690 BTC for $108.6 million.
Bitcoin's price registered a hike of about 2.35% to hit $64,314 at press time, bouncing from lows near $62,700, with the RSI above the neutral 50-level indicating improving buying pace. However, the MACD remains below zero, suggesting cautious trader sentiment. Meanwhile, Spot Bitcoin ETFs saw $389.7 million in net outflows at the time of writing, with total net assets at about $76.6 billion, according to data from SoSoValue. This choppy trend since May, interrupted by occasional inflows, helps explain why Strategy is building a larger cash cushion rather than relying heavily on Bitcoin sales during challenging market conditions. The company's $63.36 billion cost basis works out to $75,385 per bitcoin, a level well above spot prices trading near $64,268, with STRC returning 9% over the trailing year even as bitcoin fell 47% over the same span.
