Strategy Inc. (MSTR) increased its cash reserve to $3.75 billion after raising $544.5 million through its at-the-market stock program, while its Bitcoin holdings remained unchanged at 843,775 BTC.

The company’s liquidity position is intended to support preferred stock dividends, debt obligations, and future capital management plans. Shares of MSTR and preferred stock STRC both traded higher in premarket activity.

JJUST IN: MICROSTRATEGY INCREASES CASH RESERVES TO $3.75 BILLION Enough money to cover 2.1 years of interest + dividends. Cash position up $525 million from the prior week. Bitcoin reserves stable at 843,775 BTC. pic.twitter.com/L9vXkR1YOR — Bitcoin Archive (@BitcoinArchive) July 27, 2026

Strategy Raises Cash Through At-the-Market Offering

Strategy’s cash reserve rose by $525 million from the previous week after the company sold more than 5.4 million Class A shares. According to a filing with the U.S. Securities and Exchange Commission, the stock sale generated $544.5 million in net proceeds.

At-the-market programs allow listed companies to issue shares over time through the open market rather than through a single underwritten offering. For Strategy, the proceeds add cash to its balance sheet while also increasing its share count, a tradeoff investors track closely because the company’s capital structure is tied to its Bitcoin treasury strategy.

Executive Chairman Michael Saylor said the company’s cash reserve is enough to cover about 2.1 years of preferred stock dividend payments. The larger cash position gives Strategy additional financial flexibility without requiring the company to sell from its Bitcoin treasury.

Bitcoin Holdings Remain Unchanged

Alongside the equity raise, Strategy repurchased 288,930 STRC preferred shares for $25 million. The company did not change its Bitcoin position and has now gone three consecutive weeks without buying or selling Bitcoin.

Strategy continues to hold 843,775 BTC, acquired at an average purchase price of $75,476 per coin.

We’re gonna need another color. pic.twitter.com/AqZO5UeXDx — Michael Saylor (@saylor) July 26, 2026

The company’s cash reserve also supports interest obligations and future capital management initiatives. Strategy still has $975 million authorized for preferred share repurchases and $1 billion available for common stock buybacks. Those authorizations give the company room to repurchase securities, but they do not require future buybacks.

Separately, Saylor drew debate after arguing that broader Bitcoin adoption depends on integration with traditional banks. His comments divided parts of the Bitcoin community, with critics pointing to Bitcoin’s original peer-to-peer design, while supporters said institutional participation could help accelerate mainstream adoption.