Overview
- Strategy sold about 4.82 million Class A shares through its at‑the‑market program for roughly $466.7 million, which raised the company’s U.S. dollar reserve to about $3.0 billion according to its July 13 SEC filing.
- The firm made no Bitcoin purchases or sales in the seven‑day reporting period ending July 12, leaving its holding unchanged at 843,775 BTC after a June 29–July 5 sale of 3,588 BTC for roughly $216 million.
- Strategy says the cash was set aside to fund preferred‑stock distributions and interest on debt under its June 29 Digital Credit Capital Framework, giving the company roughly 20 months of coverage for those fixed obligations.
- The company still retains large financing optionality with about $23.8 billion of remaining ATM equity capacity and board approval to monetize up to $1.25 billion of Bitcoin, leaving future choices between dilution and coin sales open.
- Markets trimmed MSTR shares by a few percent on the disclosures, but several analysts kept Buy ratings, calling the cash build disciplined while investors watch for further equity issuance, dividend stress, or renewed Bitcoin sales.