Strategy ($MSTR) Extends Bitcoin Purchasing Pause To Five Weeks As USD Reserves Hit $3.75B

Strategy Inc. (NASDAQ:MSTR), the Bitcoin-focused firm formerly known as MicroStrategy and led by Executive Chairman Michael Saylor, has prolonged its break from acquiring the cryptocurrency for a fifth consecutive week. In the seven-day period ending July 26, 2026, the company neither bought nor sold any Bitcoin, leaving its holdings unchanged at 843,775 BTC.

These coins were accumulated at an average cost of approximately $75,476 each, representing a total outlay of about $63.69 billion including fees and expenses.

At recent market levels, the position carries substantial unrealized losses, yet Strategy remains the largest corporate holder of Bitcoin worldwide, controlling more than 4 percent of the asset’s fixed 21-million supply.

Rather than deploying capital into additional Bitcoin, Strategy concentrated on strengthening its liquidity position.

Through its at-the-market equity program, the firm sold roughly 5.43 million shares of its Class A common stock (ticker MSTR), generating $544.5 million in net proceeds.

Those funds, combined with other cash movements, boosted the company’s U.S. dollar reserve by $525 million to a total of $3.75 billion as of July 26.

Management has indicated that this cash buffer is designed to cover preferred-stock dividend payments and interest on outstanding debt.

The current reserve is estimated to provide approximately 2.1 years of coverage for those obligations, which amount to around $1.76 billion annually.

The shift toward cash accumulation began after the company’s last Bitcoin purchase of 520 coins in the week of June 22 and follows an earlier sale of 3,588 BTC that helped seed the reserve.

In addition to the common-stock sales, Strategy initiated activity under its digital credit securities repurchase program by buying back 288,930 shares of its STRC preferred stock for $25 million.

Roughly $975 million of authorization remains available for further preferred-share repurchases.

This pivot reflects a deliberate rebalancing of the firm’s capital structure amid a challenging market environment in which MSTR shares have traded below the net value of the company’s Bitcoin holdings.

By prioritizing a proper dollar reserve and selectively retiring preferred shares trading below par, Strategy aims to reduce dilution concerns and enhance financial flexibility while still affirming its long-term commitment to Bitcoin as a treasury asset.

Company executives have stressed that the pause in purchases does not signal an abandonment of the Bitcoin strategy.

President and CEO Phong Le has reiterated that Strategy intends to remain a disciplined long-term buyer of the cryptocurrency once market conditions and capital metrics support renewed accumulation.

For now, however, the overall emphasis now remains on liquidity and balance-sheet resilience. The latest disclosures now appear in a Form 8-K filed with the US Securities and Exchange Commission (SEC) and accompanying corporate announcements, underscoring the firm’s transparent approach to communicating treasury decisions to investors.