Strategy Added $467M in Cash, Made No Changes to Its Bitcoin Holdings

Michael Saylor's Strategy (formerly MicroStrategy) raised $466.7 million by selling 4,818,781 Class A common shares through its at-the-market (ATM) program over the week ending July 12, 2026. According to an 8-K filing submitted Monday, the company made no bitcoin purchases or sales between July 6 and July 12 — its holdings stayed unchanged at 843,775 BTC.

Why build up cash

Strategy's cash reserve now totals $3 billion, which the company says it holds to support dividend payments on its preferred stock and interest payments on its outstanding debt. Earlier this month, we covered how the company sold part of its bitcoin holdings to help fund this same cushion.

Unchanged holdings — but not cheap ones

The aggregate purchase price for all 843,775 BTC on Strategy's balance sheet is roughly $63.69 billion, working out to an average entry price of about $75,476 per coin. Against that backdrop, with bitcoin dipping to $62,800 over the weekend, MSTR shares were down around 3% in Monday's pre-market trading.

What this means in practice

A second straight month of no bitcoin purchases, paired with a growing cash reserve, signals that Strategy is temporarily prioritizing liquidity and financial resilience over adding to its BTC position at any cost. By the company's own math, the $3 billion reserve covers roughly 20 months of its annual dividend and interest obligations — a buffer, not a strategy reversal.

This material is for informational purposes only and is not investment advice.