TLDR
- Strategy raised $263.5 million through MSTR sales while making no new Bitcoin purchases last week.
- Bitcoin holdings stayed at 843,775 BTC, with an average acquisition cost of $75,476 each currently.
- Strategy’s USD reserve climbed to $3.225 billion after proceeds from its latest share sale settled.
- STRC closed at $85.29 while investors debated whether preferred shares trade below fair value now.
- Strategy retains $23.5 billion in common stock ATM capacity for future capital raises and liquidity.
Strategy sold 2.73 million Class A common shares between July 13 and July 19. The sale generated $263.5 million in net proceeds under its at-the-market program.
The company made no Bitcoin purchases or sales during the same period. Strategy instead increased its U.S. dollar reserve by $225 million, lifting the total to $3.225 billion.
The latest filing followed another week without Bitcoin purchases. During the previous reporting period, Strategy raised $466.7 million through MSTR stock sales.
Strategy did not sell shares under any preferred stock ATM program during either period. The company still has about $23.5 billion available under its common stock ATM program.
Bitcoin Reserve Holds at 843,775 BTC
Strategy remains the world’s largest corporate Bitcoin holder. The company holds 843,775 BTC, bought for a total purchase price of $63.69 billion.
Its average acquisition cost stands at $75,476 per Bitcoin. Bitcoin recently traded near $64,657, keeping market attention on Strategy’s balance sheet and funding model.
The company wrote, “As of 7/19/2026, we hodl ₿843,775 in our BTC Reserve and $3.2 billion in our USD Reserve.” The update shows that Strategy is building liquidity while pausing fresh Bitcoin buys.
The USD reserve helps fund preferred stock dividends and interest payments on debt. The reserve also includes expected proceeds from MSTR sales that had not yet settled.
STRC Valuation Debate Grows
Strategy’s preferred stock, STRC, closed at $85.29 on Friday. MSTR shares ended the same session at $94.85.
Credit investor Khing Oei argued that STRC may be undervalued. He said the market is treating it as a simple yield product instead of valuing future cash flows.
Oei wrote, “Never value a stream by dividing this year’s coupon by today’s price.” He argued that STRC should be valued more like a bond.
His model estimated STRC could be worth about $96 even if Bitcoin does not rise again. Oei added that higher Bitcoin prices could strengthen Strategy’s balance sheet and move STRC closer to its $100 par value.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
