Strategy expanded its U.S. dollar reserve by $225 million while making no new Bitcoin purchases for a second consecutive week, according to a July 20th regulatory filing.

The company’s dollar reserve totaled $3.225 billion as of July 19th, representing 22 months of USD dividend coverage. 

Strategy stated that the reserve is intended to support preferred-stock dividends and interest payments on outstanding debt. 

The balance includes expected proceeds from stock sales that have not yet settled.

Between July 13th and July 19th, Strategy sold approximately 2.73 million MSTR common shares through its at-the-market offering program, generating $263.5 million in net proceeds after commissions. 

It reported no sales of its STRF, STRC, STRK or STRD preferred shares during the period.

Strategy’s Bitcoin holdings remained unchanged at 843,775 Bitcoin. 

The company has spent an aggregate $63.69 billion on the holdings, including fees and expenses, at an average price of $75,476 per Bitcoin.

Strategy also made no purchases under its share-repurchase programs during the reporting period.