Company's cash reserves now total $3 billion following stock sales.
Michael Saylor's firm, Strategy (MSTR), announced a significant increase in its cash reserves, raising $466.7 million to reach a total of $3 billion. This capital boost was achieved through the sale of common stock, as detailed in a recent regulatory filing.
The raised funds are earmarked for dividend payments on preferred stock and to meet interest obligations on existing debt. Notably, the company has opted not to alter its Bitcoin holdings, which remain steady at 843,775 coins.
Strategy's Bitcoin investments, valued at approximately $63.69 billion, were acquired at an average price of $75,476 per coin. However, the company's shares saw a 3% decline in pre-market trading, coinciding with a drop in Bitcoin's value, which fell to around $62,800 over the weekend.
