Strategy shares surge over 7% to $98.5 after USD reserve boost

Strategy, the company Michael Saylor turned from a sleepy software firm into the world’s largest corporate Bitcoin holder, saw its stock jump over 7.5% to close at $98.5 after announcing it had boosted its USD reserve to $3.75 billion. How Strategy built its cash fortress Strategy first established the reserve at $1.44 billion back in December 2025, funded through at-the-market common stock sales. The goal was straightforward: cover 12 to 21 months of preferred stock dividends and debt interest payments. By July 13, 2026, Strategy had sold roughly 4.8 million MSTR shares, pulling in approximately $466.7 million and pushing the total reserve to around $3 billion. An additional raise of $263.5 million brought it to about $3.225 billion shortly after. The latest boost to $3.75 billion represents a continuation of that same playbook. The annualized obligations the reserve is designed to cover sit at an estimated $1.76 billion, which means the company now has roughly two years of runway before it would need to think about where its next dollar comes from. Strategy’s Bitcoin holdings stayed completely untouched throughout all of this. The company still holds 843,775 BTC, with no purchase...