Strategy Raises $467 Million Through MSTR Share Sales, Goes Third Consecutive Week Without Buying Bitcoin

Strategy is overhauling its Bitcoin treasury model — abandoning its 'never sell' posture, pausing purchases, and restructuring capital amid mounting unrealized losses and STRC preferred stock stress.

Strategy sold $466–$467 million in MSTR stock through share offerings, leaving its Bitcoin holdings unchanged for a third consecutive week and building a cash reserve reported at approximately $3 billion. MSTR's stock price fell approximately 4.5% during the period, while analysts described the accumulation pause as reflecting greater balance-sheet discipline. Strategy separately raised 76 billion yen in Japan with an explicit statement that the proceeds would not be used to purchase Bitcoin.