Strategy Raises $466.7 Million Through Stock Sale, Builds $3 Billion Cash Reserve

Strategy raised $466.7 million by selling 4,818,781 shares of Class A common stock between July 6 and July 12, 2026, making no bitcoin purchases during the period. The proceeds pushed its U.S. dollar reserve to $3.0 billion — up from $2.55 billion the prior week — while its bitcoin holdings remained at 843,775 BTC with an aggregate purchase price of $63.69 billion. The reserve figures were disclosed in a Form 8-K SEC filing dated July 13, 2026.

MSTR stock performance context

• ▪Strategy stock closed at $94.64 on July 10, 2026, trading below its 20-day exponential moving average of $104.27 and its 50-day exponential moving average of $123.56
• ▪Strategy stock has formed lower highs and lower lows since its July 2025 peak near $450

Strategy stock sale and reserve activity

• ▪Strategy used the proceeds from its 3,588 bitcoin sale to fund preferred stock distributions and replenish its U.S. dollar reserve
• ▪Strategy made no bitcoin purchases during the period of July 6 to July 12, 2026, maintaining its holdings at 843,775 bitcoin
• ▪Strategy sold 4,818,781 shares of its Class A common stock between July 6 and July 12, 2026, generating net proceeds of $466.7 million
• ▪Strategy sold 3,588 bitcoin for approximately $216 million between June 29 and July 5, 2026

USD reserve growth

• ▪Strategy's U.S. dollar reserve stood at $3.0 billion as of July 12, 2026, up from $2.55 billion on July 5, 2026
• ▪Strategy has authorized a Bitcoin Monetization Program that permits up to $1.25 billion in potential bitcoin sales to build its cash reserve

Analyst reaction to stock sale

• ▪Analyst Michaël van de Poppe identified a buying opportunity in Strategy stock and bitcoin, comparing the setup to the 2022 bear market bottom
• ▪Standard Chartered analyst Geoffrey Kendrick maintains an end-2026 bitcoin price forecast of $100,000, calling bitcoin at $64,000 a buy

Strategy equity capital markets activity

• ▪Strategy's market value relative to the net asset value of its bitcoin holdings, known as mNAV, fell below 1.0 for the first time in late June 2026
• ▪Strategy adopted a broader capital framework in late June 2026, shifting its strategy from pure bitcoin accumulation to using holdings as collateral