Strategy Sells $334 Million in MSTR Shares, Makes No Bitcoin Moves as Cash Reserve Hits $4.8 Billion
Strategy raised $334 million through sales of MSTR stock without buying or selling any bitcoin, according to The Block. The company’s bitcoin holdings were unchanged, still accounting for roughly 4% of the 21 million bitcoin supply cap and valued at about $53.4 billion, per The Block.
Proceeds from the stock sales went toward STRC dividend payments and share repurchases, while $149.1 million was added to Strategy’s US dollar reserve, pushing that reserve to $4.8 billion, according to Cointelegraph.
Decrypt reported that the pause in bitcoin activity came after three weeks, with equity issuance instead directed toward dividends, the STRC buyback and building up the dollar reserve.
The lack of any bitcoin transaction marks a shift for the firm, which has built its balance sheet around accumulating the asset. The latest disclosures show the company relying on equity markets rather than its bitcoin stack to fund shareholder-facing programs, according to the reporting from The Block, Cointelegraph and Decrypt.
Sources: The Block, Cointelegraph, Decrypt
This article is for information only and is not financial advice.
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