Strategy Skips Bitcoin, Sells Common Stock Instead

Strategy, the world's largest corporate holder of Bitcoin, has left its $55 billion crypto stash untouched for the third week in a row. The company did not buy or sell any Bitcoin between July 20 and July 26, maintaining its holdings of 843,775 Bitcoins purchased at an average price of $75,476 each.

Instead of making any moves on Bitcoin, Strategy opted to sell more common stock, generating $544.5 million from the sale of approximately 5 million shares. The company's decision to sell common stock indicates that it remains a key funding source for the company.

The sale of common stock was part of Strategy's updated financial playbook, which has been implemented since last month. Under this framework, Strategy has $975 million available to continue buying preferred shares back from the market and an additional $1 billion for common stock.