Strategy Sells $263.5 Million In MSTR Shares, Skips Bitcoin Purchases As Cash Reserve Grows

Strategy sold roughly $263.5 million worth of MSTR shares last week without making a single bitcoin purchase, according to a filing with the SEC on Monday. The company offloaded 2,732,318 shares between July 13 and July 19, while sitting out the bitcoin market entirely during that window.

Cash Reserve Climbs Past $3.2 Billion

Proceeds from the share sales pushed Strategy’s USD reserve up by $225 million, bringing the total to $3.225 billion as of July 19. The company also confirmed it did not repurchase any of its own shares during the period. Strategy’s bitcoin holdings remain unchanged at 843,775 BTC, worth around $54.7 billion, acquired at an average price of $75,476 per coin for a total outlay of about $63.7 billion including fees. Those holdings represent roughly 4% of bitcoin’s fixed 21 million supply, though they currently carry close to $9 billion in unrealized losses at today’s prices.

Saylor Teases What Comes Next

Saylor published a 110-point essay over the weekend arguing against a proposed Bitcoin soft fork known as BIP-110, which aims to restrict arbitrary data on the network. The piece arrives ahead of the proposal’s mandatory signaling window opening in early August, with miner support currently sitting at just 0.86%.

Analysts See Encouraging Signs Despite Volatility

JPMorgan analysts described Strategy’s growing cash reserves and improving institutional demand for bitcoin futures as encouraging signals for the broader bitcoin outlook, even as spot bitcoin ETF flows remain choppy.

According to data from Bitcoin Treasuries, 197 public companies now hold bitcoin as part of their balance sheet strategy. Behind Strategy, the top holders include Twenty One, Metaplanet, MARA, and Bitcoin Standard Treasury Company, with holdings of 43,514, 43,000, 36,303, and 30,021 BTC respectively. Strategy’s stock fell 4% over the past week, closing Friday at $94.85, down 38.6% for the year so far, while bitcoin itself edged up about 0.5% over the same stretch.