Michael Saylor-led Technique (Nasdaq: MSTR), previously MicroStrategy, ran again its playbook from final week, as soon as once more promoting widespread shares to construct up its money reserve whereas including no bitcoin to its stability sheet.
One other share sale
In a July 20 submitting with the Securities and Alternate Fee, the corporate disclosed it bought 2,732,318 MSTR shares value $263.5 million, lifting its U.S. greenback reserve to $3.225 billion.
That money is supposed to cowl dividends on the corporate’s most well-liked inventory and curiosity on its excellent debt.
As with the prior week, Technique neither purchased nor bought any bitcoin, conserving its stack at 843,775 cash as of July 19.
Two gross sales this 12 months
Earlier in 2026, the corporate bought bitcoin twice, its first gross sales since 2022:
- 32 BTC for roughly $2.5 million between Could 26 and Could 31
- 3,588 BTC for $216 million between June 29 and July 5
Technique has spent $63.69 billion accumulating its cash at a mean value of $75,476 every.
Deep underwater
Bitcoin traded round $64,666 at press time, placing the worth of Technique’s holdings at $54.56 billion.
That leaves the agency about $9.13 billion underwater on its place.
MSTR inventory closed at $94.85 on July 17 and altered palms at $96.20 in premarket buying and selling on July 20.
JPMorgan weighs in
JPMorgan Chase analysts referred to as Technique’s money increase, mixed with optimistic flows into bitcoin futures, “encouraging indicators” for bitcoin’s outlook.
The analysts famous retail buyers have been shopping for Technique-linked ETFs, a development they stated has supported the MSTR inventory.