Strategy Grows Cash Buffer to $3.2 Billion Without Selling Bitcoin
The company funded the increase through sales of MSTR shares and still holds 843,775 BTC. The extra liquidity is also meant to cover preferred dividends.
Key Takeaways
- Strategy increased its cash reserve by about $225 million to $3,225 billion without selling Bitcoin.
- The company sold more than 2.7 million MSTR shares for about $263.5 million through its at-the-market equity program.
- Strategy holds 843,775 BTC and remains the world’s largest corporate Bitcoin treasury.
Strategy added about $225 million (€197 million) to its cash pile last week without touching its Bitcoin holdings. In a Monday update, the company said it now has $3,225 billion (€2.8 billion) in dollar reserves, while its Bitcoin position stayed at 843,775 BTC.
Share Sales Top Up Cash
A regulatory filing shows that Strategy sold more than 2.7 million MSTR shares for roughly $263.5 million (€230 million) through its at-the-market equity program. In other words, the company raised fresh capital in the stock market rather than trimming its Bitcoin treasury.
That move is consistent with Strategy’s long-running approach. Since 2020, it has become the largest corporate holder of Bitcoin in the world. Based on earlier company disclosures, it has financed that strategy with a mix of convertible debt and share issuance, and in 2025 it described itself as a Bitcoin development company.
Pressure on the Funding Model
The added liquidity comes as Strategy looks to build a larger cushion for preferred stock dividend payments. Over the past few months, the company has placed more weight on cash reserves after its layered financing setup came under strain during the latest crypto market pullback.
Earlier this month, Strategy sold about $216 million (€189 million) worth of Bitcoin, a rare step back after years of near-constant accumulation. Before that, the company had already approved a new monetization program that lets it sell up to $1.25 billion (€1.1 billion) in BTC to support cash reserves and dividend payments.
Why This Matters for European Readers
For European crypto readers, the key point is that public companies can pair large Bitcoin holdings with ongoing capital market financing. That makes Strategy a useful barometer for how institutional players treat Bitcoin as a balance sheet asset, not just a speculative trade.
MSTR was up 1.2 percent in premarket trading at $96 (€84), while Bitcoin edged higher over the weekend to $64,700 (€56,600). At that level, Strategy’s BTC holdings are worth nearly $55 billion (€48.1 billion), keeping it by far the largest corporate Bitcoin treasury.
