# Strategy Halts Bitcoin Purchases, Turns to Stock Sales for Liquidity The company opted for equity sales over Bitcoin to boost cash reserves. - **Source:** [DailyCoin](https://brifing.si/source/3e9b0f85-cb2f-40ee-ba61-db9410cf0937) - **Published:** 2026-07-20 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/015b6fc0-c57e-4cfe-9d3c-023d85d00a85 ## Bitcoin Purchases Paused Strategy Inc., the world's largest corporate Bitcoin holder, has not made any Bitcoin purchases for two weeks. While maintaining its current position of 843,775 BTC, the company turned to stock sales to increase cash reserves. This move aims to mitigate the impact of declining Bitcoin prices. ## Cash Boost Through Stock Sales Strategy raised $263.5 million in net proceeds by selling 2.73 million shares via its ATM program. These sales increased the company's cash reserves to $3.2 billion. The funds will primarily be used for preferred stock dividends and debt obligations. ## Bitcoin Position Value Declines The value of Strategy's Bitcoin portfolio has significantly dropped due to market downturns. The company anticipates an $8.32 billion unrealized loss for Q2 2026. While the average Bitcoin acquisition cost was $75,476, recent sales occurred between $59,000 and $61,000 per coin. ## Tax Asset Valuation Impact The decline in Bitcoin's value has affected Strategy's accounting treatment of tax assets. The company had to record a full valuation allowance against deferred tax benefits, adding pressure to its financial reporting. ## Bitcoin Monetization Program Unused Strategy has not yet utilized its $1.25 billion Bitcoin sales authorization launched in late June. The program allows additional Bitcoin sales to replenish reserves, but the company is currently prioritizing stock sales to preserve its Bitcoin holdings. ## Implications of Strategic Shift Strategy's pause on Bitcoin purchases and pivot to stock sales signals a shift from aggressive accumulation to balance-sheet defense. This could weaken its image as a Bitcoin proxy and raise concerns about dividend sustainability if prices remain low. ## Sources covering this story - https://dailycoin.com/strategy-pauses-bitcoin-buying-again-as-it-turns-to-stock-market-for-liquidity/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._