Strategy sold 4,818,781 shares of its class A common stock between July 6 and July 12, generating $466.7 million in net proceeds through its at-the-market offering program.
The company used the capital to increase its USD reserve to $3 billion, up $450 million from the $2.55 billion held a week earlier. The reserve includes proceeds from shares that had been sold but had not settled by July 10.
Strategy did not issue STRC, STRF, STRD or STRK preferred shares during the period. Another $23.79 billion of MSTR remained available under its common-stock issuance programs as of July 12.
Bitcoin Holdings Remain At 843,775 BTC
Strategy made no Bitcoin purchases or sales during the week, leaving its holdings unchanged at 843,775 BTC.
The position carries a total acquisition cost of $63.69 billion and an average purchase price of $75,476 per Bitcoin. BTC traded near $62,586 on Monday, valuing the reserve at about $52.8 billion and leaving it roughly $10.9 billion below cost.
The pause follows Strategy’s sale of 3,588 BTC for about $216 million between June 29 and July 5. That transaction reduced its holdings from 847,363 BTC and funded preferred-stock distributions before the dollar reserve rose to $2.55 billion.
MSTR jumped 8% after the Bitcoin sale as investors weighed the shift from uninterrupted accumulation toward active balance-sheet management.
Reserve Expands Under Digital Credit Framework
Strategy established the reserve to cover preferred-stock dividends and interest on its outstanding debt. Other uses require board approval.
Its Digital Credit Capital Framework requires the company to maintain enough dollars to cover at least 12 months of expected preferred dividends and debt interest.
The framework also authorized up to $1 billion of repurchases across STRC, STRF, STRD and STRK, plus a separate $1 billion MSTR buyback program. Strategy did not repurchase common or preferred shares during the latest reporting period.
MSTR traded at $94.64, leaving Strategy with a market capitalization of about $31.6 billion.
