Strategy Boosts USD Reserve to $3.75B After $525M Raise While Holding 843,775 BTC

Key Takeaways:

• The company raised its USD funds balance by $525 million or $3.75 billion, as high as ever before and it is the biggest amongst other banks.
• The cash on hand now provides for about 2.1 years of preferred dividend and debt interest required.
• The company maintained its position in Bitcoin at 843,775, and executed its first STRC preferred stock buyback.

Without acquiring additional Bitcoins, Strategy has bolstered its financial standing. The company’s capital management strategy was to maintain existing cash in BTC by shunning the expansion of holdings and by looking to its dividend policy and discounted preferred shares.

Strategy Raises Cash Reserve to Record $3.75 Billion

Strategy announced it has added $525 million to its USD Reserve, bringing the total to an all-time high of $3.75 billion. According to the company, the reserve is now sufficient to cover approximately 25 months, or 2.1 years, of expected preferred stock dividend payments and interest obligations.

Strategy has increased its USD Reserve by $525 million, achieving 2.1 years of dividend coverage. As of 7/26/2026, we hodl ₿843,775 in our BTC Reserve and $3.75 billion in our USD Reserve. $MSTR $STRC https://t.co/FASxJUHTkN

— Strategy (@Strategy) July 27, 2026

The additional capital came from the company’s at-the-market (ATM) equity program. Between July 20 and July 26, Strategy sold 5,429,160 MSTR shares, generating approximately $544.5 million in net proceeds. No preferred shares were issued during the reporting period.

The company pointed out that the policy for payments of dividends and debt service by the USD Reserve is approved by the company’s board of directors. It does not have permission to repurchase shares.

Read More: Michael Saylor Sparks Fresh Bitcoin Buy Buzz as Strategy Nears $62B BTC Stockpile

Bitcoin Holdings Remain Unchanged

Although Strategy is still the largest corporate Bitcoin owner, it didn’t buy another BTC in the last report week.

The company’s reserves of Bitcoin also stand at 843,775; the firm’s strong cash reserves were highlighted by the latest filing with SEC, highlighting its capital strength and longer-term Bitcoin strategy.

Capital Allocation Prioritizes Financial Flexibility

Instead, Strategy is allocating new funds to liquidity and flexibility in his investment mix, rather than new Bitcoin applications.

The increased cash cushion equates to further right of protection for preferred shareholders and increases the margin of maneuverability for management to manage the market. The company also said in its statement it plans to increase the company’s size over time with more equity financing and, if market conditions permit, other financing methods.

Read More: Michael Saylor Sparks Fresh Bitcoin Debate as Peter Schiff Warns of Bigger Strategy Losses

STRC Buyback Program Begins

Company Repurchases Discounted Preferred Shares

Strategy also revealed the first purchases made in its Digital Credit Securities Repurchase Program, which amounted to the repurchase of 288,930 STRC preferred shares for approximately $25 million, or $86.52 per share, on average.

Management said it will be a disciplined buyer until STRC trades meaningfully below $100, its stated value. Typically, repurchases rise as the discount gap becomes larger, and then taper over time as share prices get closer to par.

There’s about $975 million still left in the repurchase program, the company said. Finally, Management reiterated its plans to recommend maintaining the current annual dividend rate of 12%, when the preferred shares are trading near and around their target price.

A highlight here of Strategy focuses on its current priorities as it balances its industry-leading Bitcoin treasury with better liquidity management, disciplined capital allocation, and continued support of its preferred securities investors.