TD Cowen and Benchmark reiterated buy on Strategy after an $8.2 billion Q2 loss and a corporate STRC-to-par push.

Strategy raised $544.5M via equity sales but kept its 843,775 BTC holdings unchanged for a fifth week, growing cash reserves to $3.75 billion.

Strategy now holds 843,775 BTC after growing its stack 11% in Q2 2026, even as it sold more BTC to cover dividends.