MicroStrategy Debt Offset Drives MSTR Rally Amid Bitcoin Stability
Bitcoin (BTC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Strategy, formerly MicroStrategy, has reduced its net leverage to roughly 0.1% as its dollar reserves nearly offset its $6.75 billion debt. This development caused the MSTR stock to climb 12% on Thursday, reaching $138.38 by midday and alleviating fears of forced Bitcoin sales. The company holds $6.69 billion in USD assets against its debt, leaving a gap of just $60 million.
A $5.10 billion reserve, bolstered by a $3.28 billion raise this month, supports dividend and interest payments for the STRC preferred shares. Strategy holds 840,447 BTC, valued at approximately $67.9 billion, with Bitcoin trading above $80,000. The average cost per coin is $75,419, placing the treasury barely 4% in profit.
In July, the firm sold 1,638 BTC at roughly $64,000, which had previously fueled doubts about its ability to survive a crypto winter. The company states, "Our USD Assets now almost entirely offset our debt, reducing net leverage to 0.1%." Despite the improved balance sheet, preferred shares still demand steady dividends, and much of the new cash came from selling MSTR shares. Michael Saylor recently published a credit risk model to map price floors where obligations bite, leaving the question of whether Strategy will resume buying Bitcoin.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 28 August 2026. Not the outlet's figures.
Whalio data shows BTC trading at $80,249.58 with a 1-hour buy ratio of 56.2%, indicating immediate buying pressure. This short-term bullishness contrasts with the 4-hour buy ratio of 50.1% and the 24-hour ratio of 45.2%, suggesting that buying momentum is fading over longer timeframes. The 1-hour volume delta is positive at +$14,786,394, while the 24-hour delta is negative at -$123,102,218. This divergence means that while recent trades show more buyers than sellers, the daily total shows more sellers than buyers. The cumulative volume delta closed at -$94,617,260, confirming net selling pressure over the last day. Net buying occurred in only 6 of the 24 hours, highlighting a predominantly sell-side flow.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What BTC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 51.1%, compared to the current 24-hour reading of 45.2%. This represents a 5.8 point drop in buying interest relative to the weekly average. Volume over the last day was 0.65x the weekly average, indicating significantly lower activity than usual. The coin saw a 9.9% price increase over eight days, with a total volume delta of +$171,556,665 for that period. While the weekly trend was net buying for 5 of 7 days, today’s lower volume and negative delta mark an unusual day of distribution compared to the prior week's accumulation.