Strategy just confirmed it’s added both to its Bitcoin stack and its cash reserves. The company bought 520 Bitcoin for $34.9 million, which brings its total holdings to 847,363 Bitcoin. At the same time, it raised its US dollar reserve by $300 million to a new total of $1.4 billion. The Bitcoin purchase, struck at just over $67,000 per coin and funded by more than $335 million from equity sales, fits the playbook investors expect from Michael Saylor and his team. But the size of the cash reserve increase is what stands out. In relative terms, it’s larger than the recent Bitcoin buy.
This isn’t just another Saylor headline. In a rangebound, low-volatility Bitcoin market, Strategy is signaling that corporate treasury moves now rely not only on accumulation but also on liquidity and optionality. The company had already disclosed a dollar reserve of $1.1 billion last week, and it has now lifted that figure to $1.4 billion while continuing to add Bitcoin. Strategy also said it plans to keep replenishing the reserve to support the credit quality of its digital credit securities. The question is whether investors read that as long-term support for its treasury approach, or simply as a way to preserve strategic flexibility while Bitcoin trades sideways.