• Strategy Inc sold 32 bitcoin last week for $2.5 million and raised $128.3 million via share issuance.
  • The company holds 843,706 bitcoin with an average purchase price of $75,699.
  • It confirmed preferred dividend payments and maintains a $900 million USD reserve, with $26.1 billion capacity remaining under its stock program.

Bitcoin Sales and Capital Raising

Strategy Inc, formerly known as MicroStrategy (MSTR), continues to execute its Bitcoin treasury strategy with recent moves that include both selling a small portion of its holdings and raising additional capital. Last week, the company sold 32 bitcoin, generating approximately $2.5 million in proceeds. At the same time, it raised $128.3 million through its at-the-market (ATM) equity offering program, according to a recent filing.

“The company remains committed to its Bitcoin-focused strategy, using equity raises to accumulate more digital assets while maintaining a cash reserve for dividends and obligations,” a spokesperson said, declining to comment further.

Growing Bitcoin Treasury

As of the latest disclosure, Strategy Inc holds 843,706 bitcoin, acquired at an average price of $75,699 per coin. The total investment represents a multibillion-dollar commitment to the cryptocurrency, making it the largest corporate holder of bitcoin globally. The firm has been steadily increasing its stash through regular ATM offerings, often deploying proceeds within days of raising them.

Dividend Payments and Reserve

The company also confirmed that it has continued to pay dividends on its preferred shares, funded by a $900 million USD reserve. This reserve is intended to cover dividend obligations and other expenses, with the company noting that it can sustain payments for several months even if market conditions tighten. Additionally, Strategy Inc has $26.1 billion in capacity remaining under its stock program, allowing for further capital raises as needed.

Market Implications

Strategy Inc’s dual approach of selling small amounts of bitcoin while raising larger sums through equity offerings highlights its focus on liquidity management. The sale of 32 bitcoin is relatively minor compared to its total holdings, but it underscores the company’s willingness to tap its crypto reserves when necessary. The larger capital raise, meanwhile, signals that Strategy Inc sees current market conditions as favorable for expanding its bitcoin portfolio.

“The company is essentially using its equity as a funding mechanism to buy bitcoin, creating a feedback loop that amplifies exposure to the digital asset,” said an analyst familiar with the firm’s strategy. “But it also introduces risk if the stock price declines, which could limit its ability to raise capital.”

Ongoing Strategy

Since rebranding from MicroStrategy to Strategy Inc in early 2025, the company has doubled down on its Bitcoin treasury model. It has raised billions through ATM offerings, with net proceeds often exceeding $200 million per week during active periods. The recent $128.3 million raise is part of this ongoing pattern, and the firm is expected to continue buying bitcoin in the near term.

Correction: An earlier version of this article incorrectly stated that the bitcoin sale was part of a larger divestment. The sale was a routine liquidity move and does not indicate a change in strategy.