Strategy Sells MSTR Shares, Repurchases $25M of STRC Preferred

Strategy sold 5,429,160 shares of its Class A common stock (MSTR) through its at-the-market offering between July 20 and July 26, generating $544.5 million in net proceeds, and repurchased 288,930 shares of STRC preferred stock for $25 million, the company reported in a Form 8-K filed with the U.S. Securities and Exchange Commission.

The stock sale was executed through Strategy’s ongoing ATM program and increased the company’s U.S. dollar holdings. In premarket trading on Monday, MSTR shares rose more than 2%, while STRC preferred shares were up about 2.3% to $88.90 ahead of the Nasdaq open.

The transactions raised Strategy’s U.S. dollar reserve to $3.75 billion as of July 26, up from $3.225 billion the prior week. Company management said the cash reserve supports dividend payments on preferred shares, interest on outstanding debt and liquidity for ongoing capital markets activity.

Strategy reported no Bitcoin purchases or sales during the July 20–26 reporting period, leaving its holdings unchanged at 843,775 BTC. The company said the position was acquired at an average price of $75,476 per coin, representing roughly $63.69 billion at cost. Bitcoin was trading near $64,971 when the data was reported.

Executive chairman Michael Saylor posted on X, “We’re gonna need another color,” a message that prompted investor speculation about preferred-stock strategy. He also wrote that rejecting Bitcoin’s links to financial infrastructure would “deny access to most potential users.”

Strategy is the business intelligence firm that holds the largest corporate Bitcoin treasury and has used both common-stock offerings and preferred instruments to manage its capital structure while maintaining its Bitcoin holdings.