Strategy (MSTR) raised $263.5 million in cash by selling over 2.7 million shares through its at-the-market (ATM) program between July 13-19, 2026. This fresh capital pushed the company’s total US dollar reserves to $3.225 billion, up 7.5% from $3 billion the previous week. However, this cash-building move comes alongside a shift in buying behavior: for the second consecutive week, the company bought no Bitcoin at all.
Their total corporate Bitcoin holdings currently remain at 843,775 BTC, valued at nearly $55 billion at a market price of $64,700. This buying pause closely follows the company’s move in early July, when Strategy disclosed the sale of approximately $216 million in Bitcoin. The reduction in BTC reserves marked a rare shift after years of continuous accumulation. Alongside this, management also approved a new Bitcoin monetization program. The scheme paves the way for selling up to $1.25 billion in BTC in the future to bolster cash reserves and ensure dividend payouts for shareholders.
Not Just Regular Coin Trading
Equity markets responded to this shifting funding strategy. MSTR shares rose 1.2% to $96 in pre-market trading. For comparison with last Friday’s closing prices, STRC preferred stock closed at $85.29, while regular MSTR shares stood at $94.85. The company’s financing model is growing increasingly complex. The preferred share structure designed to pay dividends is drawing investor attention amid recent crypto price pressures. Management retains significant capital flexibility, with Strategy still holding $23.5 billion in remaining funding capacity under its common stock ATM program.
What Is the Market Misjudging About STRC?
Behind this new structure, credit analyst Khing Oei sees an instrument that is being underpriced by investors. He considers STRC stock to be currently undervalued because most people treat it as an ordinary 14% yield product. However, according to his financial ratio calculations, the instrument’s fair value should be around $96. This is believed to hold true even if Bitcoin’s price never rises again from its current level.
The company’s pivot from accumulating Bitcoin reserves toward strengthening its cash balance sends a fresh signal to the crypto investment ecosystem. This sudden brake on buying activity indicates that the priority of maintaining real liquidity is beginning to counterbalance the long-term vision of asset accumulation.
Sourced from Cointelegraph.
Read also: What Is Bitcoin Halving?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
