TLDR
- MSTR stock fell about 4.2% to $138.74 despite Strategy resuming Bitcoin purchases after a 10-week pause.
- Strategy bought 4,603 BTC for roughly $369.7 million at an average price of $80,318 per coin.
- Total Bitcoin holdings now stand at 845,050 BTC, acquired for an average of $75,412 per coin.
- Michael Saylor publicly stated Americans do not need a license to advocate for Bitcoin, calling BTC a commodity.
- The CLARITY Act faces a key 60-vote procedural test in the Senate on September 15.
Strategy (MSTR) stock fell about 4.2% to $138.74 on September 4, even as the company returned to buying Bitcoin after a roughly 10-week pause.
The stock traded between an intraday low of $135.41 and a high of $144.39, with around 26.3 million shares of stock changing hands. MSTR remains down 56% over the past 12 months.
Strategy purchased 4,603 BTC between August 24 and August 30, spending approximately $369.7 million at an average price of $80,318 per Bitcoin. The company disclosed the acquisition in an August 31 SEC filing.
The purchase brought Strategy’s total holdings from 840,447 BTC to 845,050 BTC. The company has paid an aggregate $63.73 billion for its position, at an average cost of $75,412 per coin.
Strategy financed the latest buy through sales of its MSTR common stock, generating about $602.8 million in net proceeds during the period. The company also spent $151.8 million repurchasing STRC preferred stock and added $30 million to its unrestricted dollar reserves.
Saylor Defends Bitcoin Advocacy
CEO Phong Le said the company evaluates Bitcoin purchases based on cost of capital rather than price alone, noting that financing conditions can make buying at $80,000 sensible even after earlier sales closer to $60,000.
Executive Chairman Michael Saylor separately took to social media to defend public Bitcoin promotion. “In America, you don’t need a license to discuss Bitcoin, advocate for it, or publicly recommend owning it,” Saylor wrote on September 4.
In America, you don’t need a license to discuss Bitcoin, advocate for it, or publicly recommend owning it. Bitcoin is a commodity, not a security. Fraud and manipulation are illegal. Bitcoin advocacy is free speech.
— Michael Saylor (@saylor) September 4, 2026
Saylor also described Bitcoin as a commodity rather than a security, a position that aligns with the Commodity Futures Trading Commission’s long-held stance. He added that fraud and manipulation remain illegal under existing law.
His comments did not reference a specific case or regulatory dispute. He did not mention the CLARITY Act in his post.
CLARITY Act Heads for Senate Vote
In Washington, the CLARITY Act is heading toward a procedural vote on September 15 at 2:15 p.m. ET. The motion requires at least 60 votes to advance the bill to debate and amendments.
Republicans hold 53 Senate seats, meaning the bill needs Democratic support to clear the threshold. Internal disagreements within the Republican caucus could raise that bar further.
The legislation would divide oversight of digital assets between the SEC and CFTC. Digital commodities, including Bitcoin, would generally fall under CFTC spot-market authority, while assets structured as investment contracts would stay with the SEC.
The National Sheriffs’ Association changed its position on the bill from opposition to neutral on September 3, removing one source of resistance ahead of the vote. NSA President Sheriff Troy Wellman and Executive Director Justin Smith disclosed the shift in a letter to Senate Majority and Minority Leaders.
Senator Cynthia Lummis welcomed the move and called on the Senate to advance the bill. Lawmakers are still negotiating provisions around ethics, stablecoin rewards, and protections for developers who do not control customer assets.
Even if the Senate clears the September 15 motion, the bill would still require a final passage vote, and any changes to the House text would need House approval before reaching the president.
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