- Strategy raised $263.5 million by selling MSTR shares but made no Bitcoin purchases or sales.
- The company maintained its Bitcoin treasury at 843,775 BTC for a second consecutive week.
- Strategy’s cash reserve increased to $3.225 billion, supporting dividends and debt obligations.
Strategy raised $263.5 million through sales of 2.73 million MSTR shares between July 13 and July 19, according to a filing with the U.S. Securities and Exchange Commission. However, the company made no Bitcoin purchases during the period, marking its second straight week without adding to its holdings, while its cash reserve increased to $3.225 billion.
Bitcoin Holdings Remain Unchanged
According to the SEC filing, Strategy’s Bitcoin treasury remained at 843,775 BTC after the reporting period. The company acquired those holdings for approximately $63.69 billion at an average purchase price of $75,476 per Bitcoin.
Meanwhile, the latest capital raise came exclusively through the company’s at-the-market common stock program. Strategy sold 2,732,318 Class A common shares and generated $263.5 million in net proceeds.
Furthermore, the company reported no Bitcoin sales during the week. It also made no purchases under any of its preferred stock programs.
Common Stock Drives Capital Raising
The filing showed no activity under Strategy’s STRF, STRC, STRK, or STRD preferred stock offerings. Likewise, the company completed no share repurchases during the reporting period.
Instead, common stock sales represented the only capital markets activity. According to the filing, approximately $23.53 billion remains available under the MSTR at-the-market program, including the expanded capacity announced in March.
As capital raising continued, Strategy also increased its U.S. dollar reserve. The reserve reached $3.225 billion as of July 19, rising from roughly $3 billion reported one week earlier.
Cash Reserve Expands As Funding Continues
According to Strategy, the cash reserve supports preferred stock dividend payments and interest obligations on outstanding debt. The reported balance also includes expected proceeds from stock sales awaiting settlement.
Meanwhile, Bitcoin holdings remained below the company’s average acquisition cost during the reporting period. Even so, Strategy kept its treasury unchanged while continuing to raise capital through equity sales.
Separately, investor Khing Oei commented on Strategy’s STRC preferred stock, arguing the market values it as a high-yield instrument rather than assessing its longer-term cash flows. His analysis estimated the preferred shares could trade closer to their $100 par value under a bond-based valuation model.