Strategy Raises $467M in Cash but Leaves 843,775 Bitcoin Untouched

Strategy raised $467 million in cash without buying bitcoin

Strategy Inc, the bitcoin treasury company led by Michael Saylor, raised $466.7 million in cash last week and made no bitcoin purchases. The firm, based in Tysons Corner, Virginia, disclosed the move in a regulatory filing dated 13 July 2026. The cash lifted its total U.S. dollar reserve to $3 billion. Strategy neither bought nor sold any bitcoin during the reporting period, leaving its holdings flat for the week. The disclosure covered the firm's capital activity for the prior week.

The company kept 843,775 bitcoin untouched last week

Strategy still holds 843,775 BTC, unchanged from the previous week. The company paid roughly $63.69 billion for that position over several years of purchases. That spending works out to an average cost of $75,476 per bitcoin. The firm, formerly named MicroStrategy, remains the largest corporate holder of bitcoin in the world. The position gives Strategy an outsized exposure to bitcoin's price swings. Its choice to sit still marks a pause for a company known for steady buying.

Stock sales funded the growing dollar reserve

Between 6 July and 12 July, Strategy sold 4,818,781 Class A common shares through its at-the-market equity program. An at-the-market (ATM) program lets a company sell new shares gradually at current market prices. Those sales supplied the cash added to the reserve. Strategy issued no preferred stock under its other ATM facilities during the same window. The company filed the update with the U.S. Securities and Exchange Commission (SEC) on a Form 8-K. The approach raises dollars without selling any of the company's bitcoin.

A recent sale marked a shift in the playbook

The cash raise follows a change of pace for the company. According to CoinDesk, Strategy sold about $216 million of bitcoin a week earlier, its largest bitcoin sale on record. That sale broke from years of near-continuous accumulation under Saylor. Before that week, the company had rarely parted with any of its bitcoin. The latest filing shows the firm raising dollars through equity instead of touching its bitcoin again.

Bitcoin trades below Strategy's average purchase cost

Bitcoin traded at $62,233 at the time of publication, down 2.78% over the past 24 hours (CoinPaprika, 13 July 2026). That price sits roughly 50% below the coin's October 2025 record high near $126,000. It also falls short of Strategy's $75,476 average cost, leaving the holdings below their purchase price on paper. According to CoinDesk, MSTR shares fell about 3% in pre-market trading after bitcoin's weekend decline.

The reserve backs preferred dividends and debt payments

Strategy maintains the dollar reserve to support dividend payments on its preferred stock and interest on its outstanding debt. The company runs several series of preferred shares alongside its common stock. The cash buffer covers those fixed obligations without forcing the sale of bitcoin. Preferred shareholders receive fixed payments regardless of bitcoin's market price. Building the reserve gives the firm room to meet payments during periods of lower bitcoin prices.

Primary source: Source ↗