Strategy, the company formerly known as MicroStrategy, just sold another batch of its own stock to pad its cash reserves. The firm raised roughly $525 million through Class A common stock sales under its at-the-market offering program, pushing its total USD Reserve to $3.75 billion as of July 26.
The cash cushion strategy
Strategy’s annual financial obligations are estimated at $1.76 billion, covering preferred stock dividends and debt interest payments. With $3.75 billion now in the reserve, that works out to roughly 2.1 years of runway.
Just days earlier, around July 20, the company had bumped its reserve from $3 billion to $3.225 billion with a separate $225 million raise. The pace of capital raises has accelerated considerably since December 2025, when the USD Reserve stood at $1.44 billion. In about seven months, Strategy has more than doubled its cash position. Investors were apparently fine with the dilution: the stock surged over 7% following the announcement, closing near $98.50.
Never selling the Bitcoin
