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FinanceMicroStrategy sells shares again to boost cash reserves
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MicroStrategy (now Strategy), led by Michael Saylor, sold 2.7 million shares worth $263.5 million to boost its cash reserve to $3.225 billion, according to a July 20 SEC filing. The cash will support dividend payments on preferred stock and interest on debt. The company did not buy or sell any Bitcoin, maintaining its holdings at 843,775 coins. However, it sold Bitcoin twice earlier in 2026 for the first time since 2022. With Bitcoin trading at $64,666, the company's BTC holdings are valued at $54.56 billion, meaning it is $9.13 billion underwater on its investment. JPMorgan analysts described the cash boost as an 'encouraging sign' for Bitcoin's outlook, noting retail investor buying of Strategy-linked ETFs has supported MSTR stock, which traded at $96.20 in premarket on July 20.
Source report
Anand Sinha Mon, July 20, 2026 at 8:58 AM PDT | 2 min read
- MSTR
- BTC-USD
- DX-Y.NYB
Michael Saylor-led Strategy (Nasdaq: MSTR), formerly MicroStrategy, has repeated its playbook from last week by again selling the company's common shares to boost its cash reserve, while adding no Bitcoin (BTC) to its balance sheet.
In a filing with the Securities and Exchange Commission (SEC) on July 20, the company disclosed that it sold 2,732,318 MSTR shares worth $263.5 million, growing its U.S. dollar reserve to $3.225 billion. The cash reserve is intended to support the payment of dividends on the company's preferred stock and interest on its outstanding indebtedness.
Similar to last week, Strategy did not buy or sell any Bitcoin. The company's holdings stood at 843,775 coins as of July 19.
Bitcoin Sales in 2026
The company sold Bitcoin twice this year for the first time since 2022:
- 32 Bitcoin for approximately $2.5 million between May 26 and May 31
- 3,588 BTC for $216 million between June 29 and July 5
Strategy purchased these coins for $63.69 billion at an average price of $75,476 per coin.
Market Performance
Bitcoin was trading at $64,666 at press time, according to Decibel. The value of Strategy's Bitcoin holdings is therefore $54.56 billion, meaning the company is $9.13 billion underwater on its BTC holdings.
MSTR stock, which closed at $94.85 on July 17, was trading at $96.20 in premarket hours on July 20.
JPMorgan Finds Strategy's Cash Boost 'Encouraging'
As reported earlier, JPMorgan Chase analysts said that Strategy's cash boost, coupled with positive flows into Bitcoin futures, are "encouraging signs" for Bitcoin's outlook.
According to the analysts, retail investors have been buying Strategy-linked ETFs, a trend that has supported the MSTR stock.
This story was originally published by TheStreet on Jul 20, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
Source
Yahoo FinanceWestern
Part of this Story
MicroStrategy Resumes Bitcoin Purchases, Clarifies Net-Buyer Strategy