Key facts
- Strategy sold approximately $466.7 million in MicroStrategy Class A common stock.
- Strategy's cash reserves reached $3 billion as of July 12.
- Strategy maintained its holdings of 843,775 Bitcoin.
- The company has not repurchased any shares under its share repurchase programs.
- Strategy previously sold $216 million worth of Bitcoin.
Michael Saylor’s Strategy has sold approximately $466.7 million in MicroStrategy (MSTR) shares between July 6 and July 12, according to a Form 8-K filing with the SEC. This move boosted the company's cash reserves to $3 billion as of July 12. Strategy has maintained its existing holdings of 843,775 Bitcoin and has not purchased any new Bitcoin for three consecutive weeks. The company stated the cash reserve is intended to pay dividends on preferred stock and interest on debt, providing approximately 20.4 months of coverage for these obligations. This follows a previous sale of about $216 million worth of Bitcoin. Strategy also did not repurchase any shares under its established share repurchase programs during the week ended July 12.