Strategy (MSTR), the largest publicly traded holder of bitcoin, lifted its cash reserve by $747.8 million last week.
The company’s “USD Reserve” — intended as a fund through which Strategy can pay the dividends on its preferred stock — now stands at roughly $2.2 billion. This latest capital raise came entirely via the sales of the firm’s common stock, according to a Monday SEC filing.
At that $2.2 billion, the reserve is now large enough to fund 32 months of preferred dividends.
In boosting its cash balance, Strategy chose not to add any bitcoin after two consecutive weeks of buying about $1 billion worth. The company continues to hold 671,268 BTC purchased for just over $50 billion and worth about $60.4 billion based on BTC’s current price of roughly $90,000.
MSTR is higher by 3% premarket alongside bitcoin’s modest weekend gain in price. The stock remains lower by more than 40% year-to-date.
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