Strategy sold nearly $263.5 million worth of MSTR shares last week and did not make any bitcoin purchases, according to a newspaper. 8-K filing with the Securities and Exchange Commission on Monday.
The Bitcoin treasury company announced the sale of 2,732,318 shares of MSTR stock between July 13 and July 19. Proceeds went toward a $225 million increase to the company’s U.S. dollar reserve, which stood at $3.225 billion as of July 19. The strategy did not purchase any Bitcoin, did not sell any Bitcoin, and did not repurchase any shares under its repurchase programs during this period.
The company’s Bitcoin pool is worth 843,775 BTC, a position worth about $54.7 billion at current prices. Strategy acquired the coins for about $63.7 billion, including fees and expenses, at an average price of $75,476 per bitcoin, according to co-founder and CEO Michael Saylor.
This total represents about 4% of Bitcoin’s maximum supply of 21 million. At current prices, the position carries about $9 billion in paper losses.
Dollar reserves rose during a series of similar weeks. The previous filing put the balance near $3 billion after a $467 million stock sale, and the new addition of $225 million represents a continued tilt toward cash as management builds a buffer against the company’s debt load.
Bitcoin buy stop strategy
The pause extends the pattern. The strategy has relied on the dollar accumulating new bitcoin purchases in recent weeks, a shift from the aggressive buying that has occurred Reshaping corporate finance It defined much of its history.
Saylor posted another strategic chart for tracking Bitcoin acquisition To X on Sunday with the caption “What’s next?” Posts of this kind preceded acquisition announcements the next day, although the company’s approach has varied over recent weeks.
Company leadership positions sales as a matter of balance sheet strength rather than decline. President and CEO Fung Le He said Bloomberg TV last week that the strategy intends to remain a long-term buyer of Bitcoin. Lu said the company would begin evaluating the risks associated with its debt if bitcoin falls to the $8,000 to $10,000 range, and described the balance sheet as safe.
The situation matches Saylor’s repeated pledge to do so The strategy will continue to buy Bitcoin For years, a message he carried even through it Defenses for potential BTC sales.
Saylor turned his attention to the Bitcoin protocol over the weekend. He published a 110-point article titled “110 Reasons BIP 110 Is a Bad Idea,” which is his most detailed case against a proposed soft fork that seeks to limit arbitrary data on the network.
The article arrives ahead of BIP-110’s mandatory reference window, which opens in early August. Miner support stands at 0.86% according to the Comptroller General of the proposal.
Foundry has a Bitcoin mining pool Miners were asked to vote on the measureand industry voices have referred to the fork as one On track to fail Due to weak signal.
Analysts’ reaction to the strategy’s dollar buildup was warm. JPMorgan analysts Named Larger cash reserves and improving institutional demand in bitcoin futures are “encouraging signs” for bitcoin’s outlook, even as spot inflows of bitcoin ETFs remain volatile.
The strategy lies above a crowded field. Bitcoin Treasury data contains 197 public companies that have some form of Bitcoin acquisition model, a number that has pushed forward Bitcoin holdings of companies reach a record level. Twenty One backed by Tether, Metaplanet, MARA, and the Bitcoin Standard treasury backed by Adam Back and Cantor Fitzgerald round out the top five, with 43,514 BTC, 43,000 BTC, 36,303 BTC, and 30,021 BTC.
The stock has struggled. MSTR fell 4% over the past week and closed Friday at $94.85, a decline of 38.6% year to date. Bitcoin has risen by about 1% over the same period, a split that widens the gap between the value of a company’s treasury and its market capitalization.
Strategic shares rose 2% in pre-market trading.
