Strategy sits out another week of bitcoin buying as cash pile hits $3.2 billion

Strategy, the largest corporate bitcoin holder, kept its wallet shut for a second straight week. Instead of adding coins, the company sold just over 2.7 million MSTR shares between July 13 and 19, raising about $263.5 million and lifting its cash reserve by $225 million to $3.225 billion. Holdings stay at 843,775 BTC — roughly four percent of bitcoin’s 21 million cap.

The cash is earmarked chiefly for dividends on the preferred shares that financed years of aggressive accumulation. Earlier in July the firm even took the rare step of selling bitcoin, letting go of 3,588 coins for around $216 million. With an average purchase price of $75,476 and bitcoin trading near $64,700, the position shows a paper loss in the region of $9 billion. CEO Phong Le insists more purchases are coming, but has not said when.

Until they do, the market is missing its steadiest bid — a detail worth factoring in for anyone reading bitcoin’s demand side right now.