Strategy Raises $2 Billion, Builds $1.59 Billion Cash Reserve

Strategy, formerly known as MicroStrategy, has built its corporate strategy around accumulating bitcoin through debt and equity issuance, tying its balance sheet closely to the cryptocurrency’s price. Because the company is one of the largest publicly traded corporate holders of bitcoin, any framework allowing sales is closely watched for its potential impact on liquidity, shareholder returns and market supply.

At its second-quarter earnings call, Strategy said it raised the bitcoin sale limit under its current capital plan to $5 billion from $1.25 billion, quadrupling the previous ceiling. Proceeds could be used to replenish dollar reserves, fund preferred-stock dividends and repurchase shares. Chief Executive Officer Phong Le and Executive Chairman Michael Saylor stressed that the $5 billion figure is an authorization cap, not a confirmed sale amount.

Strategy, formerly known as MicroStrategy (Nasdaq: MSTR), has long raised funds through stock and debt issuance to buy Bitcoin and has become the world's largest publicly traded corporate holder of the cryptocurrency. Its asset allocation and financing capacity affect investors in MSTR common and preferred shares, while its U.S. dollar reserve is an important safeguard for the company's continued payment of preferred-stock dividends.

In the week ended July 19, 2026, Strategy raised funds by selling common stock and purchased 520 Bitcoin for about $34.9 million, bringing its total holdings to 847,363 BTC. The company also added $300 million to its U.S. dollar reserve, lifting its cash holdings to $1.4 billion to strengthen its capacity to pay preferred-stock dividends.

Strategy, formerly known as MicroStrategy, has treated Bitcoin as a core treasury asset since August 2020 and has continued adding to its holdings through equity and debt financing. The strategy, led by Michael Saylor, has made it the world’s largest publicly traded corporate holder of Bitcoin while closely tying its share price to cryptocurrency market movements.

Strategy disclosed in a Form 8-K filed on July 13, 2026, that it had raised funds through its at-the-market equity offering programs during the previous week and purchased 1,587 Bitcoin for about $100 million. The transaction increased its total holdings to 846,842 Bitcoin, with cumulative acquisition costs exceeding $64 billion.

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, 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.