Strategy stashing cash đź’°

The Bitcoin treasury firm continued to shore up its cash reserve and conducted a STRC buyback, as its pause on BTC buys notched up a fifth week.

Author

Stephen Graves
July 27, 2026

đź“ť What you need to know

Bitcoin treasury firm Strategy maintained its weeks-long pause on BTC buys, instead conducting sales of its MSTR common stock and a buyback of $25 million in its STRC preferred stock. The MSTR sale netted $544.5 million, $525 million of which went into shoring up its cash reserve, which now stands at $3.75 billion.

The move follows its adoption of a capital management framework that allows for the selling of up to $1.25 billion in BTC, though to date the firm has raised cash by selling MSTR stock rather than its crypto holdings, diluting common shareholders in the process.

Last week, Strategy overhauled its investor metrics, debuting "net Bitcoin per share," which strips out $22.2 billion of debt and preferred claims to show what common holders own. At the same time, it redefined mNAV against that figure. Previously, it showed MSTR trading at a discount; under the new formula, it sits at 1.04x. How convenient.

Strategy Adds $525M to Cash Reserve, Skips Bitcoin Buy for Fifth Week

The Bitcoin treasury firm also tapped its $1 billion preferred buyback for the first time, spending $25 million on STRC.

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