Home›Crypto›Market Structure›Strategy boosts cash reserves to $3.225 billion via st…

Strategy boosts cash reserves to $3.225 billion via stock sales

The company sold more than 2.7 million shares through an at-the-market program to raise about $225 million in cash while keeping its bitcoin holdings unchanged.

Reported · Written up by our desk · Market Structure

Strategy increased its U.S. dollar reserves to $3.225 billion after selling common stock, according to CoinDesk. The firm said it raised cash for its dividend plan while leaving its bitcoin holdings unchanged for the second straight week.

A regulatory filing reviewed by CoinDesk showed Strategy sold over 2.7 million MSTR shares for roughly $263.5 million through its at-the-market equity program. Michael Saylor, the company’s executive chairman, said Strategy now holds $3.225 billion in cash alongside 843,775 BTC.

CoinDesk reports the update comes as Strategy tries to rebuild liquidity after pressure on its dividend-paying preferred stock structure during the recent crypto market downturn. The company remains the largest corporate bitcoin holder, and at bitcoin’s weekend price near $64,700, its BTC stash was valued at nearly $55 billion.

CoinDesk also notes the cash push follows a rare $216 million bitcoin sale earlier this month, which was the firm’s first significant BTC reduction after years of near-continuous accumulation. Strategy previously approved a bitcoin monetization program that contemplated selling up to $1.25 billion of its BTC stash for cash reserves and dividend payments.

Latest closeBitcoin $84,310.25 ▼0.1%

More like this

Sources