Strategy Inc. Boosts $3B Cash as $55B Bitcoin Shows $9.9B Loss
Strategy Inc. increased its U.S. dollar reserve to $3.0 billion and holds 843,775 BTC worth about $55 billion, creating an unrealized loss near $9.9 billion on a $63.69 billion cost basis.
As of July 16, 2026, Strategy Inc. reported a U.S. dollar reserve of $3.0 billion and 843,775 bitcoin holdings. At current prices near $64,500 per coin, the bitcoin position is worth roughly $55 billion.
The company’s aggregate cost basis for its bitcoin is $63.69 billion, or about $75,500 per coin, producing an unrealized loss of about $9.9 billion.
Executive chairman Michael Saylor posted on X on July 12 that the firm added $450 million to its USD reserve. He wrote: “Strategy has increased its USD Reserve by $450 million. As of 7/12/2026, we hodl ₿843,775 in our BTC Reserves and $3.0 billion in our USD Reserves.”
Strategy raised roughly $467 million that week through a common stock sale under its at-the-market program. The company has not bought bitcoin since June 22 and sold 3,588 BTC in recent weeks while building cash.
Company management reports the $3.0 billion reserve provides roughly 20 months of coverage for dividend and interest obligations tied to its preferred stock and debt. The firm has prioritized the cash buffer over new bitcoin purchases since late June.
In investor materials, Saylor described the firm’s approach as converting bitcoin into credit. The presentation listed effective yields of 16.69% on the junior STRD preferred securities and 13.79% on STRC, and noted STRD trading near $60.42 and STRC near $88.28. The presentation compared those yields with about 4% on comparable U.S. government bond funds.
Critics say the high yields reflect lower security prices and a market risk premium, and they warn that further declines in bitcoin would shrink the value of the company’s collateral while dividend and interest obligations continue to accrue. Observers also noted the recent coin sales coincided with an on-chain bottom signal last seen around the 2022 FTX collapse.
Strategy updates its public disclosures weekly. The next filing will show whether the company increases cash, resumes bitcoin purchases, or sells additional coins.
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