Strategy is doubling down on its updated financial playbook, leaving its $55 billion Bitcoin horde untouched while selling common stock and repurchasing its beaten-down preferred shares.
The company disclosed Monday that it didn't buy or sell any Bitcoin between July 20 and July 26, keeping its crypto stash unchanged for the third week in a row. Strategy's holdings currently stand at 843,775 Bitcoin purchased for an average of $75,476 each.
Strategy, the world's largest corporate holder of Bitcoin, opted instead to sell more common stock, bringing in $544.5 million from the sale of roughly 5 million shares. Although the company added preferred stock to its fundraising toolkit last year, its latest actions signal that common equity remains a key funding source.
Shares jumped 6.8% to $97.88 on Monday, snapping a three-day losing streak. The gains mirrored gains in the crypto market, as Bitcoin rose 0.9% over the past 24 hours to $65,276, according to CoinDesk.
Strategy said last month that it would opportunistically buy and sell its own shares rather than issuing them continuously. The company's "Stretch" preferred stock, which trades under the ticker STRC, had become its go-to method for funding Bitcoin acquisitions, but that engine stalled amid a downturn in the crypto's price and concerns over Strategy's ability to cover its dividends.
Strategy appears to be doubling down on its new financial plan. The company revealed Monday that it had repurchased 288,930 shares of STRC preferred in the preceding six-day period.
Under the updated framework, Strategy has $975 million available to continue buying preferred shares back from the market and an additional $1 billion for common stock.
The software company-turned-crypto whale maintains a U.S. dollar reserve to meet its dividend and interest commitments. As of Sunday, the balance of the reserve stood at $3.75 billion. The company's board has authorized up to $1.25 billion in Bitcoin sales to bolster the fund.
Chairman Michael Saylor reiterated Monday that the share buybacks would be funded outside the reserve. "Our objective is for STRC to trade near $100 with high liquidity, low volatility, and healthy, sustainable independent demand," Saylor said in a post on X. "We will not issue below $100."
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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(END) Dow Jones Newswires
July 27, 2026 10:11 ET (14:11 GMT)
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