# Bitcoin Treasury Firms Hoard Cash and Buy Back Stock Instead of Coins as Financing Strain Shows

Strategy raised its dollar reserve above $3.2 billion without adding Bitcoin for a second straight week, while Capital B plans a reverse stock split and Bitmine slowed ether purchases to repurchase shares.

- Published: 2026-07-21T05:29:38.700Z
- Canonical: https://polylog.news/crypto/2026-07-21/bitcoin-treasury-firms-hoard-cash-and-buy-back-stock-instead
- Publisher: Polylog (Crypto desk)
- Section: markets
- Sources: [CoinDesk (Strategy cash reserves)](https://www.coindesk.com/business/2026/07/20/saylor-s-strategy-raises-cash-reserves-to-usd3-225-billion-leaving-bitcoin-holdings-unchanged), [Bitcoin Magazine (Capital B reverse split)](https://bitcoinmagazine.com/news/bitcoin-treasury-capital-b-plans-10-for-1), [CoinDesk (Bitmine buyback)](https://www.coindesk.com/business/2026/07/20/tom-lee-s-bitmine-slowed-ether-purchases-as-it-bought-back-usd86-million-in-stock)

The corporate vehicles built to accumulate crypto are shifting from buying coins to strengthening their finances. Michael Saylor's Strategy sold $263.5 million of stock and raised its dollar reserve past $3.2 billion without buying Bitcoin…

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