Summary: Strategy (MSTR) sold approximately 5.43 million shares through its "at-the-market" program, raising net proceeds of about $544.5 million. The funds were not used to purchase new BTC; instead, the company continued to expand its cash reserves. Saylor stated that dollar reserves have increased to $3.75 billion, sufficient to cover about 2.1 years of preferred stock dividends. Approximately $25 million was used to repurchase about 288,930 shares of STRC stock. Roughly one month after the last BTC purchase announcement, Strategy again did not add to its BTC holdings; total BTC position stands at approximately 843,775 coins, with an average cost of about $75,476. 👀 Investor focus has shifted to: When will Saylor deploy these billions in cash for the next major BTC purchase. ---Michael Saylor's strategy once again raised hundreds of millions of dollars, but surprisingly, none of it was used to purchase new Bitcoin (BTC). Instead, the company continued to expand its cash position. At this point, the world's largest corporate Bitcoin holder appears to be deliberately hitting the brakes, while investors await the next large-scale purchase. Strategy Builds Multi-Billion Dollar ReservesA new SEC filing shows that Strategy sold 5.43 million MSTR shares last week through its so-called at-the-market program. The company raised approximately $544.5 million in net proceeds. Michael Saylor stated that dollar reserves have increased to $3.75 billion. He noted that this amount is sufficient to cover the company's preferred stock dividend obligations for about 2.1 years. Strategy has increased its dollar reserves by $525 million, achieving 2.1 years of dividend coverage. As of July 26, 2026, we hold 843,775 BTC and $3.75 billion in dollar reserves. $MSTR $STRC — Michael Saylor (@saylor) July 27, 2026 A small portion of the raised funds ($25 million) was used to repurchase 288,930 shares of STRC stock. This is also evident from the official SEC filings. Bitcoin Purchase Fails to Materialize AgainWhat investors had been primarily waiting for did not happen again. Strategy did not purchase any additional Bitcoin last week. This brings the total reserves to 843,775 BTC, for which the company paid approximately $63.69 billion in total, at an average purchase price of $75,476 per Bitcoin. Approximately one month has passed since Strategy last announced a new Bitcoin purchase. Since then, the focus appears to have shifted toward strengthening the cash position. This shift comes after the preferred stock STRC, which Strategy used to raise funds earlier this summer, came under considerable pressure. The price fell well below the $100 issue price at the time, prompting the company to first increase its liquidity buffer. STRC has since partially recovered, but the share price remains below the original issue price. With $3.75 billion in cash reserves, Strategy now possesses considerable financial strength. Therefore, the biggest question facing investors is not whether Michael Saylor will buy Bitcoin again, but when he will decide to deploy the billions in reserves for the next purchase.

MicroStrategy's Michael Saylor Raises $3.75 Billion Without Buying New Bitcoin

<h2>加密貨幣市場動態</h2> 近期加密貨幣市場呈現出複雜多變的態勢。以下是主要觀察重點： <h2>交易平台與資金動向</h2> - Uniswap在美國應用商店金融類別排名大幅下跌，顯示用戶興趣轉移- Strategy將6.13億美元比特幣轉移至新地址，大額資金流動持續- Zoth安全事件調查顯示涉事資金暫無重大變動，市場擔憂暫緩 <h2>市場波動與風險</h2> - MakerDAO採用預言機安全模塊，避免8440萬美元巨鯨倉位清算- ETH跌破1800美元，相關倉位仍面臨清算風險- FUNToken 24小時內漲幅達79.53%，展現極端波動性 <h2>全球監管環境</h2> - 英國考慮對美國實施關稅反制措施- 日本FSA擬將加密資產歸類為金融工具，加強內部交易監管- 香港計劃擴大家族辦公室稅務減免範圍至虛擬資產領域 <h2>市場展望</h2> - Michael Saylor將於下週披露比特幣增持數據- BTC跌破83000美元，波動率降至3.47%，顯示短期穩定- Peter Schiff預測：若黃金升至5000美元，BTC可能跌至1萬美元 <h2>產業發展</h2> - Movement向Coinbase大量存入MOVE代幣- Tether開展人工智慧項目人才招募- T-Mobile因SIM卡交易所攻擊賠償3300萬美元，突顯安全問題

加密市場多空交織：監管趨嚴、BTC跌破83000美元、機構動向引關注

加密貨幣市場動態

交易平台與資金動向

市場波動與風險

全球監管環境

市場展望

產業發展

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MicroStrategy's Michael Saylor Raises $3.75 Billion Without Buying New Bitcoin

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