Michael Saylor’s Strategy raises $467M while pausing Bitcoin buys

The capital raise was executed through the company’s at-the-market program, leaving approximately $23.79 billion of capacity available for future share issuances. The firm’s Bitcoin holdings remain valued at roughly $63.69 billion, based on an average purchase price of $75,476 per coin. As of July 12, Strategy holds $3 billion in U.S. dollar reserves, which management intends to allocate toward interest payments on debt and dividends for preferred stock.

Market attention intensified following Executive Chairman Michael Saylor’s recent social media activity, where he hinted that the firm’s public Bitcoin acquisition charts provide an incomplete picture of its treasury operations. While the company retains authorization to sell up to $1.25 billion in Bitcoin under its monetization program, no further divestments were recorded during this period. Standard Chartered analysts noted that recent price volatility in Bitcoin stemmed largely from uncertainty regarding this evolving treasury approach, yet they maintained their $100,000 price target for the asset by the end of 2026, citing strong underlying fundamentals.