Strategy raised $263.5 million last week by selling nearly 2.73 million Class A shares, while its Bitcoin holdings stayed flat at 843,775 Bitcoin. In its latest SEC filing, the company said those sales ran from July 13 through July 19 and lifted its dollar reserves to $3.225 billion, with no Bitcoin sales and no share repurchases during the period.
What matters here is the funding choice. Instead of shrinking its Bitcoin position to raise cash, Strategy used its at-the-market stock program to rebuild liquidity and keep its core holdings intact. That gives management more flexibility at a moment when the next move matters: it can sit on a larger cash buffer, resume buying if conditions improve, or lean again on its monetization program without having weakened its main Bitcoin bet first.