Strategy (MSTR) raises cash reserves to $3.2 billion without bitcoin (BTC) sale

Strategy (MSTR) raises cash reserves to $3.2 billion without bitcoin (BTC) sale

Finance

Saylor's Strategy raises cash reserves to $3.2 billion, leaving bitcoin holdings unchanged

For the second consecutive week, the firm kept bitcoin holdings steady, choosing to use the raised capital to boost cash for paying dividends on its preferred stock.

By

Krisztian Sandor

|

Edited by

Stephen Alpher

Updated

Jul 20, 2026, 1:23 p.m.

Published

Jul 20, 2026, 12:35 p.m.

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Strategy Executive Chairman Michael Saylor standing. (Nikhilesh De/CoinDesk))

Summary

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Strategy raised about $225 million in cash last week by selling common stock, lifting its U.S. dollar reserves to $3.225 billion while leaving its bitcoin holdings unchanged.

A regulatory filing shows the company sold more than 2.7 million MSTR shares for roughly $263.5 million through its at-the-market equity program.

The move follows a rare $216 million bitcoin sale and is part of a broader effort to rebuild liquidity and support dividends, even as Strategy remains the largest corporate bitcoin holder with 843,775 BTC worth about $54.6 billion.

Strategy (MSTR), the world’s largest corporate bitcoin

BTC

$

64,367.83

holder, raised its cash reserve by roughly $225 million last week after selling common stock, bolstering liquidity while leaving its bitcoin holdings unchanged.

Michael Saylor, executive chairman of the firm,

said

Monday that Strategy now holds a U.S. dollar reserve of $3.225 billion alongside its 843,775 BTC stash.

A

regulatory filing

showed the company sold over 2.7 million MSTR shares for roughly $263.5 million through its at-the-market equity program.

MSTR was 1.2% higher at $96 in pre-market trading alongside a small rise in the price of bitcoin over the weekend to the current $64,700.

The latest update comes as Strategy has focused on rebuilding its cash buffer after its increasingly complex financing model and dividend-paying preferred stock structure came under pressure during the recent crypto market downturn.

Earlier this month, the company

disclosed

the sale of about $216 million worth of bitcoin, a rare reduction in its BTC holdings that marked its first significant sale after years of near-continuous accumulation. Before that, the firm

approved

a new bitcoin monetization program that included selling up to $1.25 billion of its BTC stash to boost cash reserves and fund dividend payments.

Strategy remains the world's largest corporate bitcoin holder by a wide margin. At bitcoin's current price of $64,700, its 843,775 BTC treasury is worth nearly $55 billion.

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