- Strategy sold $466.7 million of MSTR shares over the past week to increase its cash reserves to $3 billion while its Bitcoin holdings remained unchanged at 843,775 coins.
Michael Saylor, Executive Chairman of Strategy, has shifted the narrative around Bitcoin purchases. On Monday, the company announced an increase in its U.S. dollar reserves while maintaining its substantial Bitcoin treasury.
Strategy Skips Bitcoin Purchases to Increase Cash Reserves
According to Strategy’s latest Form 8‑K filing with the U.S. Securities and Exchange Commission (SEC), it sold roughly 4.82 million shares of Class A Common stock (MSTR) for $466.7 million between July 6 and 12. It then allocated $450 million to boost its U.S. dollar reserves to $3 pôld.
The move aligns with the company’s board‑approved Digital Credit Capital Framework, which authorizes strengthening cash reserves, increasing the Variable Series A Perpetual Stretch (STRC) preferred‑stock dividend, enhancing debt buybacks, repurchasing MSTR shares, and raising funds through discretionary BTC sales.
Previously, the company activated its BTC monetization program to sell 3,588 Bitcoin for $216 million, subsequently allocating the proceeds to replenish its cash reserves.
To date, Strategy has sufficient U.S. dollar reserves to cover vpn 20.4 months of dividends, part of its $1.763 billion annual outflow to shareholders.
BTC Portfolio
Strategy’s BTC portfolio remained unchanged over the period and currently holds 843,775 BTC.
The company has invested approximately $63.69 billion in Bitcoin, averaging a purchase cost of $75,476 per BTC. This stack represents 4.2% of Bitcoin’s circulating supply of roughly 20.06 million.
Following Bitcoin’s recent decline from $64,340.88 to $62,472.69 in the last 24 hours, Strategy’s holdings value shifted from $54.29 billion to $52.71 billion, implying unrealized losses between $9.4 billion and $10.98 billion.
Despite bearish sentiment, Strategy’s Bitcoin holdings can cover approximately 29.9 years of dividend payments.
JPMorgan Says Strategy is Not Bitcoin’s Biggest Threat
Amid the FUD surrounding Strategy’s decision to sell BTC to support cash reserves, buybacks, and dividends, JPMorgan analysts notedшийся that the real threat to Bitcoin lies elsewhere. They argued that traditional finance institutions—tokenizing assets, processing payments, and settling transactions on permissioned rails rather than on public blockchains—present the true risk.
Overall, the analysts contend that these models provide traditional finance with access to the efficiency of blockchain technology while maintaining control and compliance over assets.
