Strategy sold 2,732,318 shares of MSTR between July 13 and July 19, raising $263.5 million in net proceeds while making no new Bitcoin purchases. The company’s July 20 Form 8-K listed no pref
Strategy sold 2,732,318 shares of MSTR between July 13 and July 19, raising $263.5 million in net proceeds while making no new Bitcoin purchases.
The company’s July 20 Form 8-K listed no preferred-stock sales and no purchases under its common or preferred share-repurchase programs during the period. Strategy still had $23.53 billion available under its MSTR at-the-market offerings at the end of the week.
Its U.S. dollar reserve increased to $3.225 billion from $3 billion on July 12. The balance includes expected proceeds from at-the-market transactions that had not settled by July 19 and is intended to fund preferred-stock dividends and interest payments on outstanding debt.
The increase followed $466.7 million in MSTR sales during the previous week, when the reserve rose by $450 million.
Strategy ended the week with 843,775 BTC acquired for $63.69 billion at an average price of $75,476 per coin. It has not added Bitcoin since buying 520 BTC during the June 15 to June 21 reporting period.
The company subsequently sold 3,588 BTC for $216 million between June 29 and July 5 to fund distributions across its preferred-stock products. Holdings have remained unchanged since that sale.
Bitcoin traded near $64,600 on Monday, valuing Strategy’s position at about $54.5 billion. The spot value was roughly $9.2 billion below the company’s aggregate purchase cost, although that difference moves directly with Bitcoin’s market price.
The four-week pause in purchases contrasts with Strategy’s earlier pattern of converting common and preferred equity proceeds into Bitcoin shortly after issuance.
Strategy has increasingly retained capital for recurring cash obligations rather than deploying every round of financing into additional Bitcoin. The USD reserve has climbed from $900 million at the end of May to $3.225 billion in less than two months.
The larger reserve reduces near-term reliance on Bitcoin sales to cover preferred dividends and debt interest. JPMorgan previously estimated that a $3 billion reserve provided roughly 20 months of coverage for those obligations.
Common shareholders continue to absorb additional issuance without a corresponding increase in the Bitcoin balance. Strategy issued no preferred securities during the latest week, leaving MSTR common stock as its only active fundraising channel in the July 20 filing.
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