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Strategy keeps Bitcoin holdings unchanged as BTC jumps 24%
Strategy sold 18.26 million shares, lifted cash to $5.1 billion, and said its USD cash pool gives it more flexibility to act as markets change.
Strategy, the company behind the MicroStrategy ticker, left its Bitcoin holdings unchanged over the past week even as Bitcoin rose sharply, according to Yahoo Finance. The report said Strategy’s BTC position was not adjusted while the price of the largest cryptocurrency increased more than 20%.
Over the same period, Strategy sold 18.26 million shares of its common stock, increased its cash reserves to $5.1 billion, and repurchased $136.4 million of its preferred stock. Strategy also said it raised $2 billion from the sale of its common stock in recent days.
As of Aug. 23, Strategy reported $5.1 billion in cash reserves and $1.59 billion in a USD Cash account, for total liquidity of $6.69 billion. Yahoo Finance also reported that the company intends for the new USD Cash pool to support preferred stock dividends and debt interest payments, with the remainder potentially used to buy more Bitcoin or repurchase shares.
The report said Strategy’s Bitcoin holdings were acquired at an average price of $75,385 per Bitcoin, putting the position in profit with BTC trading at $78,950 on Aug. 24. Strategy added that the cash pool is meant to provide flexibility to respond to changing market conditions.
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