Strategy Halts Bitcoin Purchases to Increase Cash Reserve to $3 Billion

Strategy, the publicly traded company led by Michael Saylor, has not purchased any Bitcoin since June 22, 2026, when it acquired 520 BTC for about $35 million. Since then, its approach has shifted towards enhancing liquidity, reflected in a substantial sale of 3,588 BTC, which generated roughly $216 million. The company's total Bitcoin holdings now stand at 843,775 BTC.

Specifically, on June 30, Strategy sold 1,363 BTC for approximately $80.8 million, followed by a subsequent sale of 2,225 BTC for $135.2 million. Following these transactions, the company bolstered its U.S. dollar reserve, which now stands at approximately $3 billion and provides 20.4 months of coverage for preferred-stock dividends and debt interest totaling about $1.76 billion.

This accumulation of cash reserves positions Strategy with better flexibility to manage its finances during a potential prolonged downturn in Bitcoin prices. By increasing its cash cushion, the company aims to avoid needing to sell Bitcoin at depressed prices or seek unfavorable capital raises. The strategy is also part of a broader monetization and capital-management framework designed to support dividend payments during periods of Bitcoin weakness.

Investors have shown concerns regarding the potential for a cyclical low in Bitcoin prices, expected around October based on historical patterns, though this remains speculative. The stock of Strategy's preferred securities, known as Stretch securities (STRC), reflected this sentiment as they currently trade at a discount to their stated value, suggesting investor demands for higher yields to offset associated risks.

As of recent market data, STRC shares currently trade near $87 and have seen fluctuations since dropping to about $70 in late June. This emphasizes the ongoing impact of Bitcoin's price volatility on investor confidence and Strategy’s financial maneuvering.