Strategy Pads Cash Reserve By $225M With MSTR Sale, Bitcoin Stash Remains Untouched
Strategy added $225 million to its USD Reserve last week without selling Bitcoin. Between July 13 and July 19, it sold 2,732,318 MSTR shares through its at-the-market program, raising $263.5 million, with the proceeds directed to a reserve meant to cover dividends and debt. The reserve now totals $3.225 billion. The firm kept its 843,775 BTC stack unchanged. That holdings level represents about 4% of Bitcoin’s fixed supply. The company has rarely sold BTC, but it did sell 3,588 BTC for about $216 million in late June and early July under a board-approved framework allowing up to $1.25 billion in BTC sales to bolster reserves. The strategy protects preferred shareholders, who receive dividend payments first, but it dilutes common MSTR holders. Michael Saylor said the firm’s USD Reserve rose by $225 million. Critics, including Peter Schiff, argued that Strategy is sacrificing common shareholders to avoid selling Bitcoin.
