Strategy Skips Another Batch of Bitcoin Buys, Goes for Dollar Accumulation

MicroStrategy, now rebranded as Strategy, has once again skipped buying Bitcoin. Instead, it used $25 million to buy back shares of its own preferred stock, Stretch (STRC). This is the fifth time in a row that the company has opted for dollar accumulation over fresh Bitcoin buys.

The move comes after the company generated $544.5 million in net proceeds by selling 5,429,160 shares of MSTR common stock between July 20 and July 26 through its at-the-market program. The company still holds 843,775 Bitcoins on its balance sheet, worth over $55 billion at today's price.

Strategy has leaned on dollar accumulation in recent weeks, a shift from the aggressive purchases that defined much of its history. With this move, it now has $3.75 billion in cash that will not be used to fund repurchases.