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MicroStrategy sold $467 M of MSTR shares, boosting cash to $3 B while keeping its 843,775 BTC holding steady – see the impact on price and upcoming dividend
MicroStrategy raised $466.7 million by selling Class A common stock between July 6‑12, increasing its cash reserve to $3 billion but leaving its Bitcoin treasury untouched at 843,775 BTC, a move that kept the stock down about 3% in pre‑market trading【3】.
| At a glance | |
|---|---|
| Cash raised | $466.7 M |
| Bitcoin holding | 843,775 BTC (≈ $52 B at $62 k) |
| MSTR share price | $91.80 (‑3% pre‑market) |
| Catalyst | Equity sale via ATM offering, no BTC purchase |
The company sold roughly 4.8 million shares through its at‑the‑market (ATM) program, adding $466.7 million to its USD reserve and bringing total cash to $3 billion, up from $2.55 billion a week earlier【3】. The proceeds are earmarked for dividend payments on its STRC preferred stock and interest on existing debt, not for additional Bitcoin purchases【1】. The ATM program still has $23.8 billion of capacity, including a $21 billion tranche announced on March 23, which the firm may tap once the current tranche is depleted【2】.
Strategy’s Bitcoin stash remains at 843,775 BTC, acquired at an average cost of $75,476 per coin, well above the current $62,500‑$63,000 trading range, meaning the entire position is underwater on a cost basis【1】. The firm sold 3,588 BTC for $216 million in the prior week, its largest single disposal to date, but made no new purchases during the July 6‑12 window【1】【3】. Analysts note that a holder controlling roughly 4% of total Bitcoin supply changing behavior without clear explanation can ripple through market sentiment【1】.
Strategy announced its first semi‑monthly dividend to STRC preferred shareholders, with record dates set for the 15th and month‑end and the first payment slated for July 15【2】. The dividend rollout coincided with a modest 2% drop in Bitcoin price, which fell over 2% after the large BTC sale, and saw mixed futures flows as traders adjusted positions【5】. MSTR shares are down 38% year‑to‑date, reflecting investor concerns over the company’s cash‑raising strategy versus its Bitcoin accumulation track record【1】.
The $467 million equity raise underscores Strategy’s shift toward preserving cash for preferred‑stock obligations while maintaining its Bitcoin exposure, leaving the market to gauge whether the firm will resume accumulation or continue a cash‑first approach.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 5 outlets · Jul 15, 2026 · How we report
The company reports holding between 818,334 and 843,775 Bitcoin, making it the largest corporate Bitcoin holder.
The equity offering was used to increase cash reserves to $3 billion while keeping its Bitcoin treasury untouched.
Unrealized losses from Bitcoin accounting contributed a $14.46 billion loss, leading to a reported EPS of –$38.25 for Q1 2026.
Risks include the high correlation to Bitcoin price (beta 3.55), $8.17 billion in long‑term debt, and ongoing preferred dividend obligations.
Analyst sentiment varies; 24/7 Wall St. gives a buy recommendation with a price target of $358.56, while other views note both bullish and bearish scenarios tied to Bitcoin performance.