Strategy's Cash Reserve Shift: 5.43M Shares Sold, Preferred Stock Repurchased

Strategy Inc., the world's largest corporate Bitcoin holder, has made significant moves in its capital management strategy. In the week of July 20-26, the company sold 5.43 million Class A common shares through its at-the-market (ATM) program for net proceeds of $544.5 million.

The sale helped lift Strategy's dedicated U.S. dollar reserve by $525 million to $3.75 billion as of July 26, providing approximately 2.1 years of coverage for preferred dividends and interest obligations.

Notably, the company's Bitcoin holdings remained unchanged at 843,775 BTC, acquired at an average cost of approximately $75,476 per coin for a total cost basis near $63.7 billion. The recent equity sales were directed toward building the USD reserve rather than buying additional Bitcoin.