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.
Strategy, the world’s largest public company holding Bitcoin, raised about $2 billion through common stock sales last week while making no new Bitcoin purchases.
The Bitcoin treasury company sold 18.26 million MSTR shares between Aug. 17 and Aug. 23 through its at-the-market (ATM) offering program, according to a Monday filing with the US Securities and Exchange Commission.
Strategy repurchased about 1.43 million of its STRC preferred shares for $136.4 million, added $300 million to its US dollar reserve and directed the remaining proceeds to a newly launched US dollar cash account. The company reported $5.1 billion in its reserve and $1.59 billion in the new cash account as of Sunday, bringing its total cash across the two pools to $6.69 billion.
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cointelegraph.com