TLDR Tech / Crypto
Strategy sells $467M in MSTR shares, leaves 800k BTC stack untouched
Strategy raised $466.7 million through a 4.8 million Class A share ATM sale between July 6 and July 12, growing its dollar cash reserve from $2.55 billion to $3 billion while leaving its 843,775 BTC treasury untouched at an average cost of $75,476 per coin, approximately 17% above BTC's current spot price of $62,580. The equity raise follows a prior week in which the company sold 3,588 BTC for approximately $216 million to fund preferred stock dividends and debt service, signaling a deliberate shift toward equity-side capital to protect the BTC stack. Strategy retains $23.8 billion in ATM capacity, including a $21 billion tranche announced March 23, and initiated semi-monthly STRC preferred dividends with the first payment scheduled July 15. MSTR shares fell approximately 3% to $91.80 ahead of Monday's Nasdaq open alongside a broader BTC pullback of over 2% in 24 hours.
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