Overview
- For the week ending July 26 Strategy sold 5,429,160 MSTR shares through its at‑the‑market program and raised about $544.5 million, lifting its USD Reserve to $3.75 billion.
- The firm’s Bitcoin holdings remained unchanged at 843,775 BTC as it extended a multi‑week buying pause, the longest stretch without purchases in roughly two years.
- Strategy used roughly $25 million of fresh proceeds to repurchase 288,930 shares of its high‑yield STRC preferred stock under a board‑approved repurchase program and retains about $975 million of that authorization.
- Management estimates the $3.75 billion reserve covers roughly 2.1 years of preferred dividends and interest on debt given annualized obligations of about $1.76 billion and the cash is not legally ring‑fenced.
- The company keeps options to raise more equity with substantial remaining ATM capacity and to monetize up to $1.25 billion of Bitcoin, moves that reduce short‑term funding risk but can dilute common holders or put two‑way pressure on Bitcoin markets if used.