Strategy Raises USD Reserve $525M, Extends Dividend Coverage

Strategy Inc. increased its U.S. dollar reserve by $525 million to $3.75 billion as of July 27, 2026, the company disclosed in a Form 8-K filed Monday. The filing was furnished under Item 7.01 of the Exchange Act and was signed by Executive Vice President and General Counsel Thomas C. Chow.

The filing showed the added cash was added to the company’s existing reserve to cover near-term dividend and interest obligations on outstanding preferred stock and debt. The company reported the enlarged cash buffer covers 2.1 years of those payments.

Executive Chairman Michael Saylor confirmed the reserve increase on X, writing that Strategy had increased its USD reserve by $525 million, “achieving 2.1 years of dividend coverage.” He shared a tracker chart and a day earlier posted, “We’re gonna need another color,” referencing the chart’s bitcoin purchase markers.

Strategy’s bitcoin holdings were unchanged for the week ending July 26, 2026, at 843,775 BTC. The filing showed those coins were acquired for a total of $63.69 billion at an average cost of $75,476 per bitcoin. A tracker chart cited in the filing placed the reserve’s market value at $54.36 billion as of July 26, about 14.84% below the company’s average cost basis, a paper loss of roughly $9.47 billion at current prices.

During the week, Strategy repurchased 288,930 shares of its STRC preferred stock for $25 million. No repurchases of STRF, STRK or STRD preferred shares were reported. The company reported $975 million remained available under its Digital Credit Securities Repurchase Program.

Separately, $1 billion remained available under the MSTR common stock repurchase program; no common shares were repurchased in the period. To fund part of the cash reserve increase, Strategy sold 5,429,160 shares of MSTR common stock through its at-the-market program, generating $544.5 million in net proceeds. The filing showed no preferred shares were sold under the ATM program during the week.

The filing listed remaining ATM capacity at $1.62 billion for STRF, $17.51 billion for STRC, $2.10 billion for STRK, $4.01 billion for STRD and $22.98 billion for MSTR common stock.