The bitcoin treasury company lifted its cash reserve to a $3.225 billion as its 843,775 BTC stack sits about $9 billion underwater.
Strategy Inc (NASDAQ: MSTR) sold 2,732,318 shares of its Class A common stock between July 13 and July 19, generating net proceeds of $263.5 million under its at-the-market offering program, according to an 8-K filed with the Securities and Exchange Commission on July 20.
The company made no bitcoin (BTC) purchases during the period, the second consecutive week without an acquisition. Its holdings remain at 843,775 BTC, bought for an aggregate $63.69 billion at an average price of $75,476 per coin.
No Preferred Sales, No Buybacks
The filing showed no sales under any of Strategy’s four preferred-stock ATM programs — STRF, STRC, STRK and STRD — during the week, and no repurchases under its share buyback programs. The common-stock sale was the sole capital-markets activity.
Strategy said $23.53 billion remains available under its MSTR common-stock offering, which reflects combined capacity including a $21 billion increase announced in March. Its US dollar reserve, held to cover preferred dividends and debt interest, stood at $3.225 billion as of July 19.
Holdings Sit Below Cost Basis
Strategy’s average purchase price of $75,476 per bitcoin is above the token’s recent trading level. Bitcoin was changing hands near $64,200, according to CoinGecko, which puts the position’s market value around $54 billion — below the roughly $63.7 billion the company has paid. MSTR shares edged about 0.5% higher in pre-market trading Monday.
The second straight week without a bitcoin purchase, funded entirely by equity sales rather than preferred issuance, suggests Strategy is prioritizing liquidity over accumulation at current price levels.