- Strategy is separating liquidity reserves from preferred-share buybacks.
- Management is using discounted STRC purchases to reduce future financing costs.
- Strive continues combining Bitcoin accumulation with recurring shareholder payouts.
- The updates show crypto treasury firms adopting more specialized capital-allocation models.
Strategy Inc. increased its USD Reserve to a record $3.75 billion while repurchasing $25 million of its STRC preferred shares, as Bitcoin-focused investment firm Strive added to its BTC treasury and extended its dividend streak. The announcements illustrate how publicly traded crypto-focused companies are increasingly tailoring capital allocation strategies around long-term treasury management rather than simply accumulating digital assets.
Strategy Builds Larger Dividend Reserve
Strategy said it repurchased 288,930 STRC shares between July 20 and July 26 for approximately $25 million, paying an average price of $86.52 per share.
At the same time, the Michael Saylor shared that the company has increased its USD Reserve by $525 million through sales of Class A common stock under its at-the-market offering program, lifting the reserve to an all-time high of $3.75 billion. According to the company, the reserve now covers roughly 25 months of expected preferred-stock dividend payments.
Strategy has increased its USD Reserve by $525 million, achieving 2.1 years of dividend coverage. As of 7/26/2026, we hodl ₿843,775 in our BTC Reserve and $3.75 billion in our USD Reserve. $MSTR $STRC https://t.co/Diy0008VE5
— Michael Saylor (@saylor) July 27, 2026
Management stressed that the reserve serves a specific purpose under its board-approved policy and cannot be used to finance STRC repurchases. Instead, future buybacks will be funded through other corporate resources, including potential proceeds from additional MSTR share sales or, depending on market conditions, Bitcoin sales.
STRC Buyback Strategy Remains Opportunistic
Rather than committing to fixed purchase targets, Strategy said it intends to remain an active buyer while STRC trades below its $100 stated value.
Key elements of the program include:
- Approximately $975 million remains authorized under the Digital Credit Securities Repurchase Program.
- Repurchase activity will depend on market pricing, liquidity and available capital.
- The pace of purchases is expected to slow as STRC approaches its $100 target price.
Chief Executive Officer Phong Le said buying STRC below par reduces future preferred dividend obligations while improving long-term capital efficiency.
The company also reiterated its intention to recommend maintaining STRC’s 12% annualized dividend rate until the preferred shares demonstrate sustained trading near par, although the board will continue reviewing the payout each month based on market conditions and the company’s overall capital structure.
Strive Continues Expanding Its Bitcoin Treasury
Separately, Strive disclosed that it purchased an additional 79 BTC for approximately $5.2 million, increasing its corporate treasury to 20,000 Bitcoin valued at roughly $1.28 billion based on the company’s stated valuation.
The latest acquisition follows Strive’s strategy of steadily increasing its Bitcoin exposure through incremental purchases rather than large one-time transactions.
Alongside the treasury update, the company announced a $0.0493 per SATA share cash distribution, marking its 35th consecutive dividend. Based on the latest market close, Strive said the payment represents an annualized dividend rate of approximately $13 per share, equivalent to an effective yield of 13.5%.
Today, Strive paid a cash distribution of $0.0493 per $SATA share. The daily dividend represents an annualized rate of $13 per $SATA share and an effective yield of 13.5% as of the latest market close.
This payment marks the 35th consecutive dividend to shareholders. pic.twitter.com/HlzBK1aEb9
— Strive (@Strive) July 27, 2026
Unlike Strategy, whose latest announcement centered on strengthening financial reserves and optimizing preferred-share liabilities, Strive paired treasury growth with continued cash returns to shareholders, reflecting a capital allocation model that combines Bitcoin accumulation with recurring income generation.
Corporate Treasury Strategies Continue to Diversify
The latest announcements illustrate that public crypto companies are moving beyond straightforward digital asset accumulation. While Strategy is prioritizing balance-sheet resilience and preferred-share management, Strive is pairing Bitcoin treasury growth with recurring shareholder distributions, reflecting increasingly differentiated approaches to capital allocation.
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