Bitcoin
MicroStrategy adds $650M to cash reserves, sells bitcoin for stock buyback
MicroStrategy's USD Reserve reached $4.65 billion following a capital raise, while the company liquidated bitcoin holdings to fund preferred share repurchases.
MicroStrategy reported an update to its reserves on August 10, 2026, raising its USD Reserve by $650 million through at-the-market share sales and extending the reserve's duration to 2.7 years. During the week of August 3 to August 9, the company sold roughly 6.6 million Class A shares, generating $653.1 million in net proceeds.
The additional cash went toward supporting dividend payments on the company's preferred stock and interest on outstanding debt. As of August 9, the USD Reserve stood at $4.65 billion, while the company maintained substantial issuance capacity: $17.51 billion in Class A common stock and $2.1 billion in unused preferred stock offering capacity remained available.
To fund a separate capital allocation, MicroStrategy sold 1,690 bitcoin at an average price of $64,262 per coin, generating $108.6 million in proceeds. Those funds were deployed to repurchase 1,152,020 shares of the company's STRC preferred stock, tightening the bitcoin-backed credit spread by 10 basis points. Following the sale, MicroStrategy's bitcoin holdings stood at 840,447 coins as of August 9, 2026.
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