Strategy (MSTR) Raises $263.5 M, Boosts USD Reserve to $3.2 B While Halting Bitcoin Purchases

Between July 13 and July 19, 2026, Strategy (MSTR) sold roughly 2.73 million of its Class A common shares in an at‑the‑market offering, generating $263.5 million in proceeds. The company directed the entire amount to its U.S. dollar reserve, raising the cash balance to $3.225 billion – an increase of about $225 million.

During the same period Strategy made no purchases or sales of Bitcoin, leaving its holding unchanged at 843,775 BTC (valued around $54‑55 billion at current prices). The firm’s average acquisition cost remains $75,476 per coin, resulting in a paper loss of roughly $9 billion compared with today's price. The expanded cash reserve is intended to cover preferred‑stock dividends and debt‑service obligations, supporting a dividend‑coverage horizon of nearly two years.

Executive Chairman Michael Saylor confirmed the raise on X, noting the firm’s focus on balance‑sheet strength rather than additional Bitcoin accumulation. The share price has been volatile, down about 38 % year‑to‑date, but the cash‑building strategy marks a shift from earlier aggressive Bitcoin‑funded purchases.