Welcome to MSTR Today in the Treasury Titans. It's Monday, it's July 27th. It's JLD. Nothing in this video is financial advice. And this episode is going to be a doozy, my friends. Lots of things are happening. I love it all. As Michael Saylor wants us to brave the dragon, and that is brave with a capital Bitcoin B. And with how Strategy is operating, I think we'll be able to do that.
As Michael Saylor says, Strategy has increased its USD reserve by 525 million, achieving a 2.1 year of dividend coverage. As of 7/26/2026, we huddle 843,000 Bitcoin in our Bitcoin reserve and 3.75 billion in our USD reserve. I've got to say it's incredibly exciting to see that Strategy can raise $525 million during a bear market, during a crappy market, during a low liquidity environment. This is just insane in an amazing way if you're an MSTR shareholder that Michael Saylor can do this, that Strategy can do this. And guess what? They did a Stretch buyback as well, which is absolutely fantastic. We'll talk about this more later because exciting times are ahead.
Fong says, Strategy's long-term objective is what? Is for Stretch to trade consistently near $100 per share with high liquidity, low volatility, and healthy sustainable independent demand. Because Michael wants to note that we repurchased 288,930 shares of Stretch for $25 million at an average price of $86.52 per share. We intend to remain a regular disciplined buyer of Stretch below $100, more at deeper discounts, less as Stretch nears $100. Another $975 million remains available for our press. So I don't want to kind of pat my own back, but this is exactly what I predicted in yesterday's video. If you listened to yesterday's video, you know that it is true that I said I think that Strategy is going to have a goal of getting to over two years of USD reserve. They did exactly that. I wasn't really thinking they could do it in this one week because I didn't know they were going to be able to raise $525 million. But guess what? They got there in one week.
And then I said, I think they're also going to do a little Stretch buyback just to inoculate the markets. And guess what? That's exactly what they did. $25 million just to let the market know, hey, we are doing Stretch buybacks. And Michael is coming out with this tweet and saying, we intend to remain a regular disciplined buyer of Stretch below $100, more at deeper discounts, which is now a deep discount, and less as Stretch near $100. And guess what? Stretch is reacting as it climbs over $89 per share. It's up over three percent right now as we speak. Who knows where it's at when you're listening? Maybe it's gone down a little bit from its initial run-up. Maybe it's continued to march upwards as the bears get terrified and try to cover their shorts because they know that Michael Saylor has $975 million to continue to buy Stretch, to continue to buy the press.
They just used $25 million of that $1 billion that they have, and they have $975 million left, and he's saying we are going to use this to get Stretch back to $100, to get the other press back to where they should be. So, if you're a short of these preps, oh, all I can do is chuckle because you're about to get your wings ripped off. Exciting times. Michael Saylor is doing exactly what he signaled he was going to do, exactly what he said he was going to do. He said, we have optionality. We have levers to pull. We're going to pull these levers. I expect to see a lot bigger Stretch buyback this coming week now that Michael Saylor has inoculated the markets and said, okay, hey, listen, we're going to do this here. We did this. Now, guess what shorts? You better cover your shorts. And guess what, people? If you want to ride back up to $100, we're going there with or without you. So, if you want an easy 11-12% return on top of the 12% that you're getting paid out by Stretch, now might be the time to jump on board.
And Michael wants to be clear that repurchases will be funded outside the USD reserve, including through MSTR Bitcoin sales based on market conditions. Our objective is for Stretch to trade near $100 with high liquidity, low volatility, and healthy, sustainable, independent demand. We will not issue below $100. So, Michael wants us to know that listen, we used the USD reserve one time to get rid of $1.5 billion of crappy convertible debt that we had. That's off the books now. We realized we made a mistake and we kind of freaked out our retail holders of Stretch. We realize that they woke up one morning and their $2.5 billion of USD reserve was cut down to 700 million. They did not like that. We realized the mistake that was made. Even though we know it was for the good of the company, we realize it was the wrong thing to do because our retail markets, which is still 70% of Stretch, loves that USD reserve. So, we're going to build that thing back up. We're not going to touch it to do anything except pay dividends if we need to in the future. So, in my mind, they're pretty much never going to use it because if they're using it to pay dividends, it means something else is not working liquidity-wise within the company.
Dylan wants us to know that over two years of USD reserves, and he's pumped because he sees the power in this. And Zinc says, this is amazing. An increase in the USD reserve by $525 million to $3.75 billion, giving 2.1 years of coverage. More importantly, a small but very notable $25 million Stretch share buyback. Both levers pulled to drag it back to par. Stretch is going to $100 by force. Absolutely. Chris says, let's go. Slowly but surely, we're getting what we wanted. Very bullish for long-term integrity of the company and the current business model. Absolutely. British Hottle says, welcome to the era of Bitcoin-backed stock buybacks. Peter Lynch, eat your heart out. Good luck, Bears. As the bears are going to get their wings ripped off. And Adam says, Strategy raises $525 million for cash reserve plus buys back $25 million of Stretch. US reserves up to $3.75 billion. That's 2.1 years of coverage. This was funded by the sale of 5 million plus MSTR shares. Strategy also bought back 288,000 shares of Stretch for $25 million.
I'm going to move down here. Using the reported ending reserve, CEB increased by approximately 0.15% per basic share. Gross Bitcoin fell by 1.41% but the additional cash and discounted Stretch retirement more than offset the common stock dilution. Equity Bitcoin exposure per basic share is up 211 sats as a result of last week's capital markets activity, 144,324 sats to 144,525. This is accretive for MSTR shareholders because you're going to have the Matthew Kriegers of the world coming out now because he's clueless. He has not done the work and he never will because he's just trying to make $412 every two weeks from Elon Musk. That's his only goal in life, or he wants you to buy membership to his quote-unquote premium Bitcoin community because here's a guy who couldn't make his own money off of Bitcoin for whatever reason because again, he's clueless. They're going to say, oh my god, Michael Saylor's diluting MSTR again. He's diluting MSTR by 5 million plus shares. If you understand the math, this is accretive for MSTR shareholders.
Adam does the work. Adam shows the work. Adam shows the reality that this was accretive for MSTR shareholders. If you don't get it, you're not doing the work. If you get it, you're doing the work. And Adam gets it. Michael Saylor says, to reject Bitcoin's integration with banks and corporations, custodians and exchanges, equity and credit markets, governments and currencies, is to deny its benefits to 99% of the world and doom it to 1% of its potential. And Michael Saylor is not going to let that happen. And neither am I. Zinc says, do not take the good days for granted. Remember when MSTR was buying Bitcoin every week and Stretch was at par? It felt like watching a paradigm shift happening before our very eyes. I miss those days. I'm confident they will come back. And by the way, after today, I'm very confident they will, too.
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Graeme says, the announcement of Stretch buybacks is potentially just as valuable as the actual buyback because the price will run up to capture the effect of a new big buyer. Retire as little as possible of Stretch. For other press, Strategy wants to surprise the buybacks to capture large discount and retire as much as possible. So, they should not announce which one they will buy back. So, there is no run-up in price. Simplifying the capital stack is important. And then, Mike Gra says, let's see how Stretch trades this week with the modest buyback. Bullish. So Graeme loves the modest buyback because now the market can decide what it wants to do and the market is telling us, hey, we like this. Airme says, low IQ investors endlessly trash talk MSTR and other Bitcoin treasury companies. The moment the stock dips, they cannot see past their own ignorance. They simply do not get it. The low IQ response is always the same. Attack what you do not understand or pretend you understand when it's obvious you do not.
Simon gets it. Michael gets it. Those who support them get it. Those who talk trash or who are excessively negative do not get it. They are just clueless and they want to remain that way. So they do. Mike says, signs of liquidity moving out on the risk curve. Ethereum very quietly beginning to outperform Bitcoin. New meme coins from influencers like Anom and Jason Williams are significantly up in the last month. The Bitcoin mid-cycle correction is likely over. Valhalla is still ahead. Bullish. Agreed. And Zinc says, every single cycle that happens, the crowd piles into Bitcoin with borrowed money near the top, gets liquidated on the way down. If you're going to use leverage, the time is now, not when Bitcoin's back above 100K. To be clear, I do not recommend leverage, but when human nature guarantees people will always do the opposite of what they should, Bitcoin rewards patience and punishes desperation every single time. Be patient, my friends. Be patient.
And Adam says, surviving a Bitcoin bear market means accepting that the universe has chosen to teach you monetary theory through ritual humiliation. This experience is pretty much the same for everyone. You watch the price fall 50%, then your relatives send you Yahoo Finance articles time and time again. Unfortunately, this is the demonic ceremony we must endure. Bull markets let you mistake social approval for conviction. Bear markets remove the audience, the dopamine, the flattering dollar conversion until you're left alone with the actual idea. When the tribe is laughing, the screen is bleeding and nobody's coming to reassure you. Can you still recognize what is true? If you can, bear market eventually reveals its joke. You just realize that Bitcoin was never on trial. You were. Adam once again dropping value bombs. Bitcoin News quotes Michael Saylor who says, human prosperity is not produced by good intentions alone. It emerges when scientific understanding, engineering, energy, capital, markets, property rights, and effective institutions work together. Let's work together, my friends.
And Simon says, in August of 2020, a $1 billion software company put $250 million of Bitcoin on its balance sheet. It was the first public company in the world to do it, and most people thought it was a stunt. Six months later, after the stock had risen 10-fold, the same people called it visionary. Less than two years after that, with the stock down nearly 90%, they called it a failed experiment, a gamble that didn't pay. My friend Michael and the people around him were ridiculed for their vision. Through it all, only one number moved in a single direction. The company owns more Bitcoin at the bottom than it had at the top. Today it owns 843,775 Bitcoin worth over $50 billion. And the same arguments are being made again. The market changed its mind four times in six years. The underlying thesis did not. Study the greatest investors and entrepreneurs, and this thesis always wins. Where the asymmetry sits. The one thing everybody needs and almost nobody understands and most people have already written off. Bitcoin. Powerful, powerful quote by Simon. I love it. Thank you for that post.
And Matt wants us to know that Strive acquired 79 Bitcoin for $5.2 million at an average cost of $65,723 per Bitcoin, which brings them to exactly 20,000 Bitcoin. A big accomplishment. Way to go, Strive. Way to go to continue to make wins, to continue to make waves, to continue to make progress on your journey to acquire more Bitcoin and to make SATS and ASST both fantastic investments for your investors. So, I hope you enjoyed this power-packed episode. So much stuff is going on in a great way for MSTR during a bear market. Okay, just imagine what happens when the price turns towards $70,000, towards $80,000, towards $90,000 and beyond. And if you don't think we're going there, what are you doing listening to this? Because we all know it's going there. And that's what we're here for. We're here for the bull. And the bull is coming. Have a fantastic Monday and let's ride this puppy.
