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Strategy channels $369.7M from MSTR sales into Bitcoin purchases
In a week of common share sales, Strategy bought 4,603 BTC at an average cost of $75,412 per coin, lifting holdings to 845,050 BTC.
Strategy says it raised $602.8 million in one week by selling 4,531,421 MSTR common shares, then allocated the proceeds across Bitcoin purchases, support for its STRC preferred stock, and additional cash, according to its Aug. 31 filing reviewed by CryptoSlate.
The company attributed $369.7 million to buying Bitcoin, and it reported purchasing 4,603 BTC from Aug. 24 through Aug. 30 at an average price of $80,318 per BTC, including fees and expenses. Strategy also said the purchase increased its Bitcoin holdings from 840,447 BTC to 845,050 BTC, and that its broader position carried an average cost of $75,412 per BTC.
For STRC, Strategy used $151.8 million to repurchase 1,557,177 STRC shares and $50.7 million for STRC dividends, and it added $30 million to its USD Cash account. CryptoSlate reports STRC is variable-rate cumulative perpetual preferred stock.
Strategy also said it used $202.5 million of the MSTR proceeds for STRC repurchases and dividends, leaving $364.8 million available under its wider preferred-stock repurchase program after the buyback. The company reported $1.61 billion in USD Cash and $5.1 billion in USD Reserve as of Aug. 30, with both balances including expected proceeds from at-the-market shares not yet settled.
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