Why Is MSTR Building a $4 Billion Cash Pile?

One Chair Podcast · Aug 3, 2026 · 15m

This week, we break down why Strategy:

- Issued $290 million of MSTR common stock

- Sold over $100 million worth of Bitcoin

- Increased its USD reserve to $4 billion

- Bought back $81 million of STRC

- Continues executing its long-term capital allocation strategy

We discuss what these moves mean for:

- MSTR shareholders

- STRC investors

- Strategy's balance sheet

- Bitcoin per share

- The path toward a stronger capital structure

We also cover the Coldcard security incident and why it serves as an important reminder that custody risk never disappears—whether you're using self-custody, ETFs…