Strategy, the company Michael Saylor turned from a sleepy software firm into the world’s largest corporate Bitcoin holder, saw its stock jump over 7.5% to close at $98.5 after announcing it had boosted its USD reserve to $3.75 billion.
How Strategy built its cash fortress
Strategy first established the reserve at $1.44 billion back in December 2025, funded through at-the-market common stock sales. The goal was straightforward: cover 12 to 21 months of preferred stock dividends and debt interest payments.
By July 13, 2026, Strategy had sold roughly 4.8 million MSTR shares, pulling in approximately $466.7 million and pushing the total reserve to around $3 billion. An additional raise of $263.5 million brought it to about $3.225 billion shortly after.
The latest boost to $3.75 billion represents a continuation of that same playbook. The annualized obligations the reserve is designed to cover sit at an estimated $1.76 billion, which means the company now has roughly two years of runway before it would need to think about where its next dollar comes from.
