Strategy Raises USD Reserve to $3.75 Billion as Bitcoin Holdings Stay Unchanged

Highlights:

• Strategy raised its dollar reserve to $3.75 billion while keeping Bitcoin holdings unchanged at 843,775 BTC.
• The company generated $544.5 million through MSTR share sales and strengthened coverage for dividends and debt.
• Strategy also repurchased $25 million of STRC shares as Saylor backed broader Bitcoin integration worldwide.

Strategy increased its U.S. dollar reserve to $3.75 billion while making no new Bitcoin purchases during the week ending July 26. The company raised fresh capital by selling MSTR shares and also repurchased part of its preferred stock.

The Bitcoin treasury company disclosed the latest figures in a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on July 27. Strategy Executive Chairman Michael Saylor also shared the update on X, saying the company had added $525 million to its dollar reserve. According to Saylor, the reserve now provides about 2.1 years of dividend coverage.

Strategy has increased its USD Reserve by $525 million, achieving 2.1 years of dividend coverage. As of 7/26/2026, we hodl ₿843,775 in our BTC Reserve and $3.75 billion in our USD Reserve. $MSTR $STRC https://t.co/Diy0008VE5

— Michael Saylor (@saylor) July 27, 2026

Strategy Raises $544.5 Million Through MSTR Share Sales

Strategy sold 5,429,160 shares of its Class A common stock between July 20 and July 26. The sales generated net proceeds of $544.5 million after commissions. The company completed the transactions through its at-the-market, or ATM, offering program. Under this type of program, a company can sell shares gradually at market prices instead of issuing them through one large sale.

As of July 26, Strategy still had about $22.98 billion in MSTR shares available for future issuance under its existing offering programs. Some of the shares sold during the week had not yet settled when the company calculated its reserve balance. The dollar reserve is designed to support dividend payments on Strategy’s preferred stock and interest payments on its outstanding debt. The larger balance gives the company more cash to meet those obligations without relying only on future fundraising or Bitcoin sales.

Strategy Makes No New Bitcoin Purchase

Strategy did not buy any Bitcoin during the reporting period. As a result, its total holdings remained unchanged at 843,775 BTC as of July 26. The company acquired those holdings for a total cost of about $63.69 billion, including fees and expenses. Its average purchase price stands at $75,476 per Bitcoin.

The update shows that Strategy focused on strengthening its cash position during the week rather than expanding its Bitcoin reserve. However, Bitcoin continues to represent a major part of the company’s treasury strategy. 

Strategy also repurchased 288,930 shares of its variable-rate Stretch preferred stock, which trades under the STRC ticker. The transaction cost the company $25 million. After the purchase, Strategy had $975 million remaining under its preferred stock repurchase program. It also retained $1 billion in authorized capacity for possible repurchases of MSTR common stock.

Saylor Supports Wider Bitcoin Integration

In a separate X post on July 26, Saylor argued that Bitcoin should work alongside banks, corporations, custodians, exchanges, credit markets, governments and traditional currencies. He said rejecting these connections would limit Bitcoin’s benefits to a small part of the global population and prevent the asset from reaching its wider potential. His comments support broader Bitcoin adoption through both crypto-native platforms and established financial institutions.

To reject Bitcoin’s integration with banks and corporations, custodians and exchanges, equity and credit markets, governments and currencies is to deny its benefits to 99% of the world and doom it to 1% of its potential.

— Michael Saylor (@saylor) July 26, 2026