According to the announcement, MicroStrategy's dollar reserves have increased to $2.55 billion. Back at the end of May (May 25), MicroStrategy's dollar reserves were only $871 million. So where did the extra $1.679 billion come from? It was raised by aggressively issuing MSTR shares in the secondary market. Here’s a breakdown from Gemini, summarizing MicroStrategy’s June weekly reports, showing how Michael Saylor pulled off this epic cash grab in June: **Round 1 (June 8 - June 14)** **Stock sales:** Issued 1,732,553 shares of MSTR common stock via ATM, raising net proceeds of $209 million. **Spending:** Spent $100 million to buy 1,587 BTC. **Reserves:** Deposited the remaining $109 million into cash reserves, pushing reserves up to $1.1 billion. **Round 2 (June 15 - June 21)** **Stock sales:** Revved up the pace, issuing 2,714,839 shares of MSTR common stock, pulling in $335.5 million in cash. **Spending:** As Bitcoin started to plummet, Saylor switched tactics, spending only $34.9 million on BTC as a symbolic gesture. **Reserves:** Stashed the bulk of $300.6 million in cash, pushing reserves up to $1.4 billion. **Round 3 (June 22 - June 28)** — **The Ultimate Madness** **Stock sales:** In the final week before rolling out the "Digital Credit Capital Framework," amidst extreme market panic over STRC dropping below $87, MicroStrategy went full throttle with its money printer, dumping a staggering 12,669,017 shares of MSTR common stock in the secondary market, instantly extracting $1.1524 billion from U.S. equities! **Spending:** $0 (didn’t buy a single coin). **Reserves:** Deposited the entire $1.1524 billion into the bank, directly boosting reserves to the final $2.55 billion ($1.4 billion + $1.152 billion ≈ $2.55 billion).