Strategy trims its own stock tail to fatten a $3.2B war chest 🪙

Strategy, the enterprise formerly known as MicroStrategy, sold about 2,732,318 shares of its Class A common stock through its at-the-market (ATM) offering program during the trading week of July 13 through July 19, 2026, generating net proceeds of approximately $263.5 million. Founder and Executive Chairman Michael Saylor disclosed the move on X, writing: "Strategy has increased its USD Reserve by $225 million. As of 7/19/2026, we hodl ₿843,775 in our BTC Reserve and $3.2 billion in our USD Reserve." The company stated there is $23.53 billion of remaining issuance capacity in its common stock ATM programs, that no preferred securities were issued or redeemed during the period, and that it did not repurchase any shares under its buyback programs during the week.

The equity sale did not translate into fresh Bitcoin purchases. Strategy reported it bought no BTC during the week ended July 19, leaving its treasury at 843,775 BTC acquired for an aggregate $63.69 billion, at an average price of $75,476 per coin including fees and expenses. As of the same date, the company's U.S. dollar bank reserves stood at $3.225 billion. According to the filing, those cash reserves are earmarked to cover dividend obligations on preferred stock and interest payments on outstanding debt.

The Class A common stock carries the MSTR ticker, and the company continues to operate under Michael Saylor's chairmanship while pursuing a balance-sheet strategy centered on $BTC accumulation alongside a growing dollar buffer. The figures disclosed in the July 19 update match the $263 million figure reported in coverage of the ATM activity, with the difference between net proceeds and the $225 million cited by Saylor attributable to the company's framing of "USD Reserve" versus total proceeds raised.