Markets report that Strategy has not altered its bitcoin holdings, while enhancing its dollar reserves and repurchasing more STRC shares last week.
Under the leadership of Executive Chairman Michael Saylor, the firm generated $333.7 million through a common stock sale.
By James Van Straten | Edited by Stephen Alpher 49 min ago 1 min read Make preferred on Share Share this article Copy link X (Twitter) LinkedIn Facebook EmailMake preferred on
- Strategy sold 3.46 million shares of MSTR for $333.7 million, directing the funds toward repurchasing $132.2 million in STRC, covering $52.4 million in dividends, and increasing its USD reserve by $150 million.
- No bitcoin transactions occurred, maintaining its bitcoin reserves at 840,447 BTC, while the USD reserve now stands at $4.8 billion, sufficient for 2.8 years of obligations.
Last week, Strategy (MSTR) raised $333.7 million by selling 3.46 million shares of its common stock, as reported in a Monday filing.
Throughout the week ending August 16, the company refrained from buying or selling bitcoin, keeping its holdings steady at 840,447 BTC. These bitcoins were originally acquired for $63.36 billion at an average price of $75,385 each, inclusive of fees.
From the stock sale proceeds, Strategy allocated $132.2 million to buy back 1,388,720 shares of its variable-rate preferred stock, STRC. In addition, it set aside $52.4 million for STRC dividends and contributed approximately $150 million to its U.S. dollar reserve.
The dollar reserve has now grown to $4.80 billion as of August 16, enhancing Strategy’s capacity to meet obligations to pay dividends on its preferred stock and interest on outstanding debt for 2.8 years.
After these transactions, Strategy has $653 million remaining for its preferred-stock buyback program and $1 billion available under its common-stock repurchase plan.
In premarket trading, MSTR shares saw a 1.3% increase, while bitcoin rose over 1% in the last 24 hours, trading close to $63,500.
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