Strategy, the business intelligence firm holding the largest corporate Bitcoin treasury, sold 5,429,160 shares of its Class A common stock (MSTR) between July 20 and July 26, generating $544.5 million in net proceeds, while simultaneously repurchasing 288,930 shares of its STRC preferred stock for $25 million, according to a Form 8-K filed with the US Securities and Exchange Commission on Monday. The transactions represent continued adjustments to the company's capital structure through its at-the-market offering program. Strategy operates within the cryptocurrency industry as a major institutional Bitcoin holder, maintaining 843,775 BTC acquired at an average price of $75,476 per coin.
Strategy Executes $544.5M MSTR Stock Sale and $25M STRC Preferred Share Buyback
Strategy sold 5,429,160 shares of its Class A common stock through its at-the-market offering program between July 20 and July 26, generating $544.5 million in net proceeds. The MSTR share price was up more than 2% in Monday's premarket activity, according to Yahoo Finance.
The company also repurchased 288,930 shares of its STRC preferred stock for $25 million, as disclosed in the Form 8-K filing. The STRC preferred shares were up 2.3% to $88.90 ahead of the Nasdaq open.
The update comes after Strategy executive chairman Michael Saylor sparked speculation on Sunday with his "We're gonna need another color" post on X, which some market observers interpreted as a hint at a new move involving the company's preferred stock strategy.
![Michael Saylor's X post]()
Source: Michael Saylor on X.com
Company Increases Dollar Reserve to $3.75B While Bitcoin Holdings Remain Unchanged
Following the additional capital raised through its ATM stock offering program, Strategy increased its US dollar reserve to $3.75 billion as of July 26, up from $3.225 billion the previous week.
Strategy reported no Bitcoin purchases or sales during the July 20-26 period, leaving its holdings unchanged at 843,775 BTC, acquired at an average purchase price of $75,476 per Bitcoin, or $63.69 billion in aggregate. Bitcoin was last trading at roughly $64,971 at time of publication.
Strategy's growing cash reserve highlights management's efforts to maintain liquidity as it expands its capital markets activity through common stock offerings and preferred stock instruments. The reserve is intended to support dividend payments on preferred stock and interest payments on the company's outstanding debt.
Michael Saylor Reignites Debate on Banks' Role in Bitcoin Adoption
The update came shortly after Saylor reignited a debate over whether banks have a place in Bitcoin's future after arguing that the crypto asset's growth depends on integration with traditional financial institutions.
Saylor wrote on X on Sunday that rejecting Bitcoin's links to financial infrastructure would deny access to most potential users. His comments drew criticism from some BTC supporters, who contend that greater involvement from banks conflicts with the network's original goal of enabling transactions without intermediaries.
Several users pushed back against Saylor's argument by citing Bitcoin's white paper, which introduced the asset as a peer-to-peer electronic cash system designed to remove the need for financial institutions. The exchange highlighted a growing divide between advocates who view banks as necessary gateways for mainstream adoption and those who see them as a threat to Bitcoin's decentralized foundation.
FAQ
What did Strategy do with its MSTR stock between July 20 and July 26?
Strategy sold 5,429,160 shares of its Class A common stock (MSTR) through its at-the-market offering program between July 20 and July 26, generating $544.5 million in net proceeds. The company also repurchased 288,930 shares of its STRC preferred stock for $25 million during the same period, according to a Form 8-K filed with the US Securities and Exchange Commission on Monday.
How much Bitcoin does Strategy currently hold?
Strategy holds 843,775 BTC as of July 26, with no purchases or sales reported during the July 20-26 period. The company acquired its Bitcoin holdings at an average purchase price of $75,476 per Bitcoin, totaling $63.69 billion in aggregate.
Why did Strategy increase its dollar reserve to $3.75 billion?
Strategy increased its US dollar reserve to $3.75 billion as of July 26, up from $3.225 billion the previous week, following additional capital raised through its ATM stock offering program. The reserve is intended to support dividend payments on preferred stock and interest payments on the company's outstanding debt.
