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Saylor's Strategy Launches 'USD Cash' Pool After $2 Billion Raise, No BTC Buys
Michael Saylor’s Strategy, the world’s largest public company holding Bitcoin, raised about $2 billion through common stock sales last week while making no new Bitcoin purchases.
The Bitcoin treasury company sold 18.26 million MSTR shares between Aug. 17 and Aug. 23 through its at-the-market (ATM) offering program, according to a Monday filing with the SEC, adding a new pool of cash to its balance-sheet toolkit as part of an effort to preserve flexibility.
Strategy repurchased about 1.43 million of its STRC preferred shares for $136.4 million, added $300 million to its US dollar reserve and directed the remaining proceeds to a newly launched US dollar cash account.
“The new USD Cash pool gives Strategy more time and optionality, but it does not remove those underlying obligations,” said Nicolai Sondergaard, a senior research analyst at Nansen.
The newly established USD Cash pool, which currently holds $1.59 billion, will sit alongside its existing reserve (which stands at $5.1 billion reserves) bringing total cash to $6.69 billion...
Strategy said the new cash account gives management more flexibility to respond to market conditions and can fund purposes including Bitcoin purchases, preferred-stock dividends, debt payments and securities repurchases.
USD Cash enhances our Digital Credit Capital Framework, and is separately designated for general Bitcoin Treasury Company purposes, including acquiring BTC, paying preferred dividends & interest, repurchasing MSTR/preferred stock, repaying converts, and increasing USD Reserve.
— Michael Saylor (@saylor) August 24, 2026As CoinTelegraph reports, the company made no Bitcoin purchases or sales during the week, leaving its holdings at 840,447 BTC, acquired for $63.36 billion at an average price of $75,385 per Bitcoin.
Strategy hasn’t bought Bitcoin since the seven days ended June 22.
“For MSTR shareholders, the trade-off is dilution in exchange for flexibility,” Sondergaard concluded.
“The latest equity issuance strengthened the balance sheet, but did not immediately increase Bitcoin-per-share exposure.”
Strategy’s shares and debt securities rallied last week as Bitcoin ran toward $80,000, but the financing flywheel remains impaired, with its valuation premium still well below earlier-cycle levels.
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Newsom Signs 'Stop Nick Shirley Act' To Stop Investigations Into Immigration 'Service' Provider Fraud
Authored by AG News Staff via American Greatness,
California Gov. Gavin Newsom signed legislation Saturday expanding privacy protections for immigration service workers, despite warnings that the measure could chill investigative journalism and face First Amendment challenges.
Assembly Bill 2624, dubbed the "Stop Nick Shirley Act" by Republican Assemblyman Carl DeMaio, expands California's Safe at Home program to certain nonprofit employees who assist people navigating the U.S. immigration system.
The law will take effect Oct. 1, 2027, after Newsom leaves office because of term limits.
Democratic Assemblywoman Mia Bonta, who introduced the bill in February, said the protections are necessary because immigration service providers face harassment and threats.
"Our immigrant service providers are living in fear because of extremists looking to demonize the work that they do and the populations they serve," Bonta said Saturday.
The measure imposes penalties on people who distribute information or images of covered immigration workers under circumstances the law defines as inciting violence or threats. Posting personal information or an image with the specific intent that another person imminently use it to commit a crime involving violence or a threat of violence: punishable by a fine of up to $10,000 per violation, imprisonment of up to one year in county jail or under Penal Code § 1170(h) (16 months, 2 years, or 3 years), or both.
Critics argue the language could discourage journalists from investigating nonprofit workers suspected of fraud or misconduct. Bonta disputes that interpretation, maintaining the law targets doxxing and threats rather than legitimate reporting.
DeMaio accused lawmakers of attempting to intimidate people "trying to shine light on bad behavior."
The legislation became associated with independent journalist and YouTuber Nick Shirley after his investigations into alleged fraud involving immigrant communities and nonprofit organizations. Shirley has argued the measure emerged in response to his reporting in Minnesota and California.
The controversy intensified Wednesday when Shirley was conducting an interview outside the state Capitol in Sacramento.
Terry Schanz, chief of staff to Democratic Assemblywoman Tina McKinnor, interrupted the encounter while holding a sign making a crude allegation about Shirley's anatomy.
The incident created an uncomfortable contrast with Democratic arguments that the new law is needed to combat harassment. Multiple complaints have since been filed against Schanz with the Legislature's human resources department, according to the New York Post.
California's existing Safe at Home program provides substitute mailing addresses to certain people considered vulnerable to threats, including domestic violence survivors and some health care workers.
With AB 2624, California will extend similar protections to qualifying immigration service workers, setting up a likely debate over where personal safety protections end and constitutionally protected newsgathering begins.
Tyler Durden Mon, 08/24/2026 - 10:15