Strategy Lifts USD Reserve to $3 Billion After $467M Stock Sale

Highlights:

• Michael Saylor’s Strategy raises $466.7 million through MSTR share sales.
• Bitcoin holdings stay unchanged at 843,775 BTC after no weekly purchases or sales.
• The USD reserve reaches $3 billion to cover dividends and debt interest.

Michael Saylor’s Strategy raised $466.7 million through common stock sales last week while leaving its Bitcoin position unchanged. According to the 8-K filing on Monday, the firm sold 4,818,781 MSTR shares between July 6 and July 12. Those sales increased its dollar reserve by $450 million, lifting the total balance to $3 billion. The firm made no Bitcoin purchases or sales during the same period.

Michael Saylor’s Strategy Keeps Bitcoin Holdings Steady

The company now holds 843,775 BTC, keeping its treasury position unchanged from the previous week. Strategy has bought these coins for about $63.69 billion, including fees and related expenses. Its average purchase price stands at $75,476 per Bitcoin. At roughly $63,000 per coin, the holdings carry a market value above $53 billion.

The reserve increase gives Strategy more cash for preferred dividends and debt interest. It also reduces pressure to use Bitcoin for near-term financial obligations. According to the filing, expected proceeds from unsettled stock sales form part of the reserve total. That structure supports several years of payments if market conditions remain difficult.

Strategy has increased its USD Reserve by $450 million. As of 7/12/2026, we hodl ₿843,775 in our BTC Reserves and $3.0 billion in our USD Reserves. $MSTR $STRC https://t.co/0YQTQd7CXS

— Strategy (@Strategy) July 13, 2026

At current prices, the Bitcoin position sits about $10.7 billion below its recorded cost. However, the company still controls roughly 4% of Bitcoin’s 21 million supply cap.

Common Stock Sales Push Cash Reserve Higher

Strategy used its at-the-market common stock program to complete the latest fundraising round. No shares moved through the STRF, STRC, STRK, or STRD preferred stock programs. The company also reported no repurchases under its authorized buyback plans. Therefore, common equity supplied the entire increase in available cash.

The firm still has substantial remaining capital capacity across its funding programs. Remaining availability includes $23.8 billion for MSTR and $17.5 billion for STRC. It also has $4 billion for STRD, $2.1 billion for STRK, and $1.6 billion for STRF. Those limits leave Strategy with several routes for future financing.

The latest filing arrived one week after Strategy sold 3,588 BTC for about $216 million. That sale marked the largest Bitcoin sale in the company’s history. Market attention then shifted toward whether another sale would follow. Instead, Strategy raised cash through shares and left its Bitcoin reserve untouched.

Market Focus Turns to Strategy’s Next Capital Move

Michael Saylor drew attention before the filing with a cryptic post on X on Sunday. His message said, “Orange dots tell only part of the story.” Similar Sunday posts have often preceded Monday updates involving Bitcoin purchases. Recently, though, those messages have also appeared before policy changes and treasury adjustments.

Orange dots tell only part of the story. pic.twitter.com/HFZd2z7fus

— Michael Saylor (@saylor) July 12, 2026

MSTR shares fell 6.5% last week and closed Friday at $94.64. Meanwhile, Bitcoin gained 1.7% over the same period. Currently, MSTR has dropped about 3% in pre-market trading as Bitcoin trades near $62,260, down by 2.80%. A recent analysis by Crypto2Community analysts forecasts BTC could head toward $58K as liquidation accelerates. 

The latest update also came as Saylor criticized Bitcoin’s BIP 110 proposal. On Sunday, he argued that temporary limits on transaction data could alter Bitcoin’s neutral consensus rules. Adam Back also suggested supporters might create a separate fork.