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Strategy keeps bitcoin holdings unchanged after $333.7M stock sale

Strategy sold 3.46 million MSTR shares for $333.7 million, using the proceeds to repurchase STRC and extend its USD reserve to $4.8 billion.

Reported · Written up by our desk · Market Structure

Strategy, the bitcoin treasury firm behind MSTR, made no bitcoin purchases or sales during the week ended Aug. 16, leaving its bitcoin holdings unchanged at 840,447 BTC, according to a Monday filing cited by CoinDesk.

The company raised $333.7 million by selling 3.46 million shares of common stock. It used $132.2 million of the proceeds to repurchase $132.2 million of its variable-rate preferred stock, STRC, and allocated $52.4 million to STRC dividends.

Strategy also added approximately $150 million to its U.S. dollar reserve. The reserve increased to $4.80 billion as of Aug. 16, extending its USD duration to 2.8 years, with the funds intended to support preferred dividends and interest payments on outstanding debt.

After the transactions, Strategy said it has $653 million remaining under its preferred-stock repurchase program and $1 billion available under its MSTR common-stock repurchase program. CoinDesk also noted MSTR shares were up 1.3% in premarket trading, while bitcoin gained more than 1% over the past 24 hours to trade near $63,500.

Latest closeBitcoin $63,452.17 ▲1.0%

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