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Strategy (MSTR) raises $467 million cash without adding to its BTC

The cash build lifts Strategy’s U.S. dollar reserve to $3.0 billion, while the company keeps its 843,775 BTC holdings unchanged.

Reported · Written up by our desk · Market Structure

Strategy (MSTR) raised $467 million through stock sales, boosting its U.S. dollar reserve to $3.0 billion, while leaving its bitcoin holdings unchanged for a second straight week, according to an 8-K filing with the U.S. Securities and Exchange Commission described by Bitcoin Magazine.

Bitcoin Magazine reports that Strategy sold about $466.7 million worth of its stock last week via an at-the-market equity program, issuing no preferred stock under other ATM facilities during the period. Between July 6 and July 12, the company sold 4,818,781 Class A common shares and did not buy or sell bitcoin over the week.

The company said the added cash is intended to cover dividend payments on its preferred stock and interest payments on its outstanding debt, Bitcoin Magazine added. Strategy’s bitcoin stash remained at 843,775 BTC, acquired for about $63.69 billion including fees and expenses, leaving the position valued at roughly $53 billion at prices near $63,000.

Bitcoin Magazine also noted that markets responded coolly to the filing, with MSTR down close to 3% in premarket trading on Monday and the stock down about 38% since the start of the year. The outlet said bitcoin traded around $62,500 after dropping over the weekend, pressuring the “bitcoin proxy” move lower.

Latest closeBitcoin $62,159.36 ▼2.5%

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