Strategy Plans to Resume Bitcoin Accumulation in 2026

Strategy, formerly MicroStrategy, has used equity and debt financing to accumulate bitcoin since 2020, turning the software company into the world’s largest corporate holder of the cryptocurrency. The strategy ties its market value closely to bitcoin while creating recurring obligations from preferred shares and borrowings. Its decision to build a U.S. dollar reserve, established on Dec. 1, 2025, is therefore important: it gives the company liquidity to cover dividends and interest without selling bitcoin during market stress.

Strategy said on July 27, 2026, that it sold 5,429,160 MSTR common shares through its at-the-market program from July 20 through July 26, raising $544.5 million in net proceeds. It added $525 million to its USD Reserve, lifting the balance to $3.75 billion, enough to cover 2.1 years of preferred dividends and debt interest. The company made no bitcoin purchase for a fifth straight week, leaving holdings at 843,775 BTC; its last disclosed purchase was 520 BTC for $35 million on June 22.

Strategy has long treated Bitcoin as a core asset and has raised funds to buy the cryptocurrency through stock issuances and sales, making it one of the world's most prominent corporate Bitcoin holders. Its holdings exceed 4% of Bitcoin's total supply, leaving its balance sheet and share price highly exposed to swings in the cryptocurrency's value.

Strategy spent $34.9 million from June 15 to June 21 to buy 520 Bitcoin at an average price of $67,068 each. The company now holds more than 847,000 Bitcoin. It has continued selling shares to raise funds for further purchases even as the position's unrealized loss has reached $9.3 billion.

Strategy has accumulated large amounts of bitcoin on its corporate balance sheet since 2020, cultivating a long-standing image of buying and never selling. Because its holdings account for about 4.2% of bitcoin in global circulation, any sale could affect market prices and investor confidence, drawing close attention to its shift toward active management.

CEO Phong Le said on June 11, 2026, that the company had sold a total of about 50,000 bitcoin since the end of 2025, worth an estimated $3 billion to $3.5 billion at prices during the trading period. He said the sales were intended to test internal processes and acclimate the market to such adjustments. Strategy still holds more than 845,000 bitcoin, and its long-term holding strategy remains unchanged.

Strategy has held Bitcoin on its balance sheet since 2020 and funded purchases through common and preferred stock offerings, investing about $6.387 billion in total. It holds more Bitcoin than any other publicly traded company, leaving MSTR’s share price and the company’s dividend obligations closely tied to Bitcoin’s performance.

On May 31, Strategy Chairman Michael Saylor posted “Working Better” on X alongside a chart showing nearly six years of purchases, which the market interpreted as a signal of another acquisition. At the time, the company held 843,738 Bitcoin acquired through 110 transactions at an average cost of $75,701 per coin, but it had not formally announced a new transaction.

Strategy, formerly MicroStrategy, has raised funds through stock and debt offerings to buy Bitcoin, making the crypto asset the centerpiece of its corporate treasury. Executive Chairman Michael Saylor has long advocated holding rather than selling. His new openness to disposing of part of the position has implications for the company’s cash flow, debt management and shareholders’ exposure to Bitcoin price risk.

Saylor said in a recent interview that it was “not unlikely” Strategy would sell some Bitcoin by the end of 2026, but did not disclose the expected amount or value. The company plans to manage cash flow using equity and credit instruments while operating under a diversified model, with the goal of maximizing Bitcoin holdings per share by 2033.

Strategy, formerly known as MicroStrategy, has long treated Bitcoin as a core asset, raising funds through stock issuance to finance continued purchases. The company has become a key gauge of corporate crypto adoption. Its vast holdings affect its financial performance and have also drawn market scrutiny of the risks arising from equity financing and Bitcoin price volatility.

Strategy spent about $43 million in early May to buy another 535 Bitcoin, increasing its total holdings to 818,869 and formally taking the figure above 810,000. At current market prices, the holdings carry an estimated unrealized gain of about $4.6 billion. The company plans to continue its long-term strategy of issuing stock and buying more Bitcoin.

Strategy, formerly known as MicroStrategy, has continued raising funds through equity and debt instruments to buy Bitcoin under Michael Saylor, making BTC a core asset. The company recently raised capital through STRC perpetual preferred stock carrying an 11.5% dividend rate. Saylor said an annual Bitcoin gain of more than 2% would be enough to cover the dividend, underscoring the company's highly leveraged capital strategy.

Strategy added 3,468 Bitcoin on April 10, according to the latest report, which did not disclose the dollar value or average purchase price of the transaction. The purchase brought the company's total Bitcoin holdings close to 770,000 BTC. As proceeds raised through STRC continue to be converted into Bitcoin, the company's holdings are moving toward a new milestone.

Strategy, formerly known as MicroStrategy, has treated Bitcoin as a core treasury asset since 2020 and has long financed purchases through sales of common and preferred stock. The strategy has made it the world’s largest corporate holder of Bitcoin, but its high-interest financing costs and exposure to cryptocurrency price swings remain under market scrutiny.

Strategy raised funds by selling Class A common stock and preferred stock from March 2 to March 8, 2026, then spent about $1.28 billion to buy 17,994 Bitcoin at an average price of $70,946 each. The transaction increased its total holdings to 738,731 Bitcoin, continuing its long-term Bitcoin treasury strategy.

Strategy, formerly known as MicroStrategy, is the world’s largest publicly traded corporate holder of Bitcoin. It has long raised funds through stock and bond issuance to buy the cryptocurrency, which it treats as a core reserve asset. The size of its holdings can affect both the company’s financial risk and market confidence, making each purchase closely watched by investors.

Strategy raised funds through an at-the-market (ATM) stock offering in late February 2026 and spent about $204 million to buy 3,015 Bitcoin at an average price of roughly $67,700 each. This was the company’s 101st Bitcoin purchase. The transaction increased its total holdings to 720,737 Bitcoin, formally taking the figure above 720,000.

Strategy, founded by Michael Saylor, has made Bitcoin its core treasury asset and has steadily bought BTC since 2020, building a large position through its corporate balance sheet. Its purchases are often viewed by the market as an important gauge of institutional investors’ long-term confidence in Bitcoin.

The latest reports indicate that Saylor has hinted Strategy is about to make its 100th Bitcoin purchase. Before the planned acquisition, the company held a total of 717,131 BTC. Reports have not disclosed the exact date, number of coins or U.S. dollar value of the 100th transaction.