Loading article…
Strategy sold 2.73 M MSTR shares for $263.5 M, kept its 843,775 BTC unchanged and grew its USD reserve to $3.225 B – see why the pause matters.
Strategy sold 2,732,318 Class A MSTR shares for $263.5 million between July 13‑19 and made no new Bitcoin purchases, leaving its treasury at 843,775 BTC and its cash reserve at $3.225 billion [1].
| At a glance | |
|---|---|
| Share sale proceeds | $263.5 M |
| Bitcoin holdings | 843,775 BTC (≈4 % of total supply) |
| USD reserve | $3.225 B |
| Catalyst | ATM equity offering, second week without BTC acquisition |
The at‑the‑market (ATM) program generated $263.5 million in net proceeds, marking the second straight week the firm chose equity issuance over adding to its Bitcoin stash [3]. The cash infusion lifted the USD reserve by $225 million for the week and $675 million in the past two weeks [2]. Management said the reserve supports dividend payments on its preferred securities and services debt obligations, underscoring a shift toward liquidity preservation amid weaker Bitcoin prices [3].
Despite the fresh capital, Strategy’s Bitcoin position remained static at 843,775 BTC, the same level reported in prior weeks [1]. The firm’s average acquisition cost of $75,476 per coin now reflects an unrealized loss of roughly $9.6 billion at current market prices [2]. The pause follows only six BTC sales since 2020, three of which occurred in 2026, the most recent being a 3,588‑BTC sale in early July [2].
Strategy’s weekly cash‑reserve updates are closely watched because past purchases have moved Bitcoin’s price. The decision to forego new buys while expanding the dollar reserve signals a more measured approach to funding, potentially tempering short‑term price support that the firm’s buying historically provided [2].
The pause highlights Strategy’s balancing act between growing its Bitcoin treasury and maintaining sufficient liquidity for dividend and debt obligations, leaving the market to gauge whether the firm will resume its historically bullish buying pattern.
Coverage is mostly measured — 180 of 191 reports stay neutral.
Every Monday — the token unlocks, Fed dates & catalysts set to move crypto and markets this week. So you’re never blindsided.
Free · 3-min read · one-click unsubscribe
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 29, 2026 · How we report
Microstrategy Bitcoin, now known as Strategy, is a business intelligence software firm that also operates as a Bitcoin Treasury Company. The firm provides data analysis, reporting, and visualization services while maintaining a large corporate reserve of Bitcoin.
Microstrategy Bitcoin holds more than 550,000 Bitcoins as of the latest reports. This accumulation is part of a corporate strategy to utilize digital scarcity on the company balance sheet.
Microstrategy Bitcoin repurchased $176.3 million of its STRC preferred stock as of September 8, 2026, to reduce future dividend payments and maintain the security near its $100 par value. Management stated that this program is intended to be a disciplined, regular effort to improve the corporate capital structure.
Michael Saylor, Sanju Bansal, and Thomas Spahr co-founded Microstrategy Bitcoin in November 1989. The founders were classmates at MIT.