Strategy Inc Raises $653M via ATM, Repurchases $109M in Preferred Stock

summarizeSummary

Strategy Inc sold $653 million in MSTR shares via its ATM program, sold $108.6 million in Bitcoin, and repurchased $108.6 million in STRC preferred stock, while growing its USD Reserve to $4.65 billion.

check_boxKey Events · Financing and Capital Events · MSTR

• ATM Sales Continue

  During the week, 6,585,682 MSTR shares were sold for $653.1 million in net proceeds, with $650 million allocated to the USD Reserve.

• Bitcoin Sold to Fund Buyback

  To fund repurchases of STRC preferred stock, 1,690 BTC were sold for $108.6 million at an average price of $64,262.

• Preferred Stock Repurchased

  Under the Digital Credit Securities Repurchase Program, 1,152,020 shares of STRC (Variable Rate Series A Perpetual Stretch Preferred Stock) were repurchased for $108.6 million.

• USD Reserve Grows

  As of August 9, 2026, the USD Reserve balance reached $4.65 billion, intended to support preferred dividends and debt interest payments.

auto_awesomeAnalysis · MSTR · Crypto Assets

Aggressive capital management continues at Strategy Inc, with $653 million in common stock sold through its ATM program and $650 million of the proceeds directed to the USD Reserve—now standing at $4.65 billion—to serve as a liquidity buffer for preferred dividends and debt service. In a parallel move, the company sold $108.6 million in Bitcoin to fund the repurchase of $108.6 million in STRC preferred stock, a tactical step that reduces preferred dividend obligations while slightly trimming its Bitcoin position. With over $22 billion in remaining ATM capacity for common stock alone, dilution remains a persistent overhang. Set against an $8.2 billion Q2 net loss and heavy insider selling, this update underscores the company's reliance on equity issuance to maintain liquidity and service its growing capital stack.