Strategy Expands USD Reserves to $3.225 Billion by Selling MSTR Shares

Prioritizing Cash Reserves Over Bitcoin Purchases
The Bitcoin treasury company Strategy has temporarily stepped back from aggressive buying and is prioritizing cash accumulation.

The company raised approximately $263.5 million (around ¥43 billion) through the sale of MSTR shares, expanding its USD reserves to $3.225 billion (approximately ¥526.28 billion). Meanwhile, it did not engage in any Bitcoin trading during the reporting period, maintaining its holdings of 843,775 BTC.

Sold Approximately 2.73 Million MSTR Shares to Further Expand Reserves

According to an 8-K report submitted to the SEC (U.S. Securities and Exchange Commission), the company sold 2,732,318 shares of MSTR from July 13 (Monday) to July 19 (Sunday), raising approximately $263.5 million.

Of this amount, $225 million (around ¥36.72 billion) was allocated to increase USD reserves, bringing the balance as of July 19 to $3.225 billion. This marks an increase from approximately $3 billion (around ¥489.56 billion) reported previously, further enhancing the cash ratio.

During this period, Strategy did not purchase or sell any Bitcoin. Additionally, it refrained from repurchasing MSTR shares under its existing buyback program.

The company has been known for directing funds raised from the equity market towards Bitcoin purchases. However, it is currently prioritizing liquidity to prepare for financial obligations such as dividends and debt rather than new purchases.

Maintaining 843,775 BTC, Long-Term Holding Policy Remains Unchanged

Strategy's Bitcoin holdings remain at 843,775 BTC, which corresponds to about 4% of the maximum supply of 21 million BTC.

According to co-founder and chairman Michael Saylor, the total acquisition cost, including fees and expenses, is approximately $63.7 billion (around ¥10 trillion), with an average acquisition price of $75,476 per BTC (around ¥1.23 million).

Meanwhile, with Bitcoin prices hovering around $64,800 (approximately ¥1.057 million), there is an unrealized loss of about $9 billion (around ¥163.18 billion) on the holdings. In this context, increasing cash reserves serves as a buffer to meet financial obligations such as dividends and debt.

Strategy maintains its long-term policy of holding Bitcoin and continuing to purchase in the future. President and CEO Phong Le also stated that the company's current balance sheet is in a safe state.

Through this stock sale, Strategy has strengthened its cash reserves while maintaining its Bitcoin holdings. For the time being, it shows a preference for ensuring financial flexibility over new purchases.

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