Strategy Builds Cash Reserves, Sells MSTR, Buys Back STRC

Strategy, a blockchain-focused company led by Michael Saylor, has increased its dollar reserves to $3.75 billion after selling MSTR common shares and buying back STRC preferred shares.

The company raised $544.5 million last week through the sale of 5,429,160 Class A common shares via an at-the-market share issuance program, from July 20 to 26.

In a separate move, Strategy bought back 288,930 shares of STRC preferred stock for $25 million.

Saylor's remarks on X, formerly Twitter, sparked debate over Bitcoin's integration with traditional financial institutions. He argued that Bitcoin's growth depends on its connection with these institutions, but some Bitcoin supporters pushed back, citing the Bitcoin white paper.