Strategy Raises $2 Billion in MSTR Stock Sales, Skips Bitcoin Buying to Build $1.6 Billion Cash Pool
Strategy raised Strategy sells $2 billion in MSTR shares, makes no bitcoin purchases, establishes $1.6 billion ‘USD Cash’ pool.
through sales of MSTR shares and did not buy any additional bitcoin, instead setting aside the proceeds in a new “USD Cash” pool, according to The Block and CoinDesk.
Cointelegraph reported the pool totals Strategy held off on new Bitcoin buying, maintaining holdings at 840,447 BTC as it launched a $1.59 billion cash pool after raising $2 billion from MSTR stock sales.
and that the company’s bitcoin holdings remain unchanged at 840,447 BTC.
Decrypt reported that Strategy has not purchased bitcoin since June, and that the newly created cash account could be used for future bitcoin purchases.
The Block reported that Strategy’s total bitcoin holdings represent roughly Strategy's total holdings account for roughly 4% of the 21 million bitcoin supply cap — worth around $66 billion.
of the Strategy's total holdings account for roughly 4% of the 21 million bitcoin supply cap — worth around $66 billion.
bitcoin supply cap, worth about Strategy's total holdings account for roughly 4% of the 21 million bitcoin supply cap — worth around $66 billion.
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Sources: The Block, CoinDesk, Cointelegraph, Decrypt
This article is for information only and is not financial advice.
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