Strategy Inc. (formerly MicroStrategy) sold approximately $466.7 million of its Class A common stock between July 6 and July 12, according to a July 13 SEC filing. However, in a departure from its usual practice, the company did not use the proceeds to purchase more Bitcoin, leaving its holdings unchanged at 843,775 BTC.
Instead, the funds were used to increase its US dollar reserves to $3 billion. This move to bolster its cash position is intended to cover future obligations, such as dividend payments on preferred stock and interest on debt, thereby reducing the potential need to sell its Bitcoin assets to meet financial commitments. This marks the second consecutive week the company has abstained from adding to its Bitcoin treasury.