Strategy Sells $395M in Bitcoin and Stock to Build $4B Cash Reserve

Strategy has made a sharp pivot in its treasury strategy by selling 1,638 Bitcoin alongside new common stock to raise roughly $395 million. None of the funds went toward buying more crypto. Instead, the firm pushed its Bitcoin acquisition pause to six weeks while using the capital to buy back discounted preferred shares and push its cash reserve to $4 billion.

The massive cash pile is designed to cover preferred dividends and debt interest for more than two years. Management wants to support its STRC preferred stock, which has traded below its $100 target. By spending $81 million to buy back STRC shares, the company hopes to steady the price and restore a key funding channel by September.

While the moves protect preferred investors and lower short term risks, they have slowed key crypto metrics. The latest sales lift total 2026 disposals past 5,200 coins, showing that Bitcoin is now serving as active liquidity for the company. Traders should watch the STRC price recovery and track whether Strategy resumes adding to its digital asset treasury next month.