MSTR Stock Climbs After Michael Saylor’s Strategy Skips Bitcoin Buys Again, Raises $545M Through Share Sale

• Strategy raised approximately $544.5 million through sales of MSTR shares under its at-the-market equity program and also repurchased $25 million of STRC shares.
• The company continues to hold 843,775 Bitcoin acquired at an average purchase price of $75,476 per coin.
• Retail sentiment on Stocktwits turned more cautious for both Strategy and Bitcoin despite the rebound in prices.

Shares of Michael Saylor-backed Strategy (MSTR) rose in pre-market trading on Monday after the company disclosed that it did not purchase any Bitcoin (BTC) for a fifth consecutive week, extending its longest confirmed buying pause in nearly two years while continuing to raise capital through its at-the-market (ATM) equity program.

MSTR stock gained as much as 2.4% before the opening bell, tracking strength across the broader cryptocurrency market. Ethereum (ETH) led gains among major digital assets, helping lift Bitcoin’s price back above the $65,000 mark after weekend weakness.

On Stocktwits, retail sentiment around Strategy slipped to 'bearish' from 'neutral' over the past day. Sentiment around Bitcoin also shifted to 'bearish' from 'neutral', even as prices recovered

Strategy Extends Bitcoin Buying Pause

In a filing with the Securities and Exchange Commission (SEC), MSTR said it bought no Bitcoin over the past week, leaving its holdings unchanged at 843,775 BTC. The company’s average purchase price remained $75,476 per bitcoin, with an aggregate cost basis of $63.69 billion. 

The latest disclosure marks Strategy's fifth straight week without adding to its Bitcoin treasury, the company's longest confirmed buying pause since it began its aggressive accumulation strategy.

ATM Program Continues To Fund Capital Strategy

Although Strategy stayed on the sidelines of the Bitcoin market, it continued to tap equity markets for fresh capital. During the week, the company sold 5.43 million MSTR shares, generating approximately $544.5 million in net proceeds through its ATM program.

Strategy also repurchased 288,930 shares of its preferred security, STRC, for roughly $25 million, continuing its efforts to actively manage its capital structure.

The company said it held $3.75 billion in U.S. dollar reserves as of July 26, including proceeds from ATM share sales that had not yet settled. Management said those reserves are intended to fund preferred stock dividends, service outstanding debt obligations, and provide additional liquidity while supporting the company's multi-layered financing strategy.

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