Strategy boosts USD reserve with $748M stock sale, skips Bitcoin purchases
The company sold about 4.5 million common shares last week, lifting its cash reserves to $2.19 billion while pausing Bitcoin purchases.
Strategy added $747.8 million in net proceeds from the sale of common stock last week to its cash reserves and paused its Bitcoin purchases, as the company rebalances its assets amid the crypto downturn.
According to a post by Strategy executive chairman Michael Saylor, the company’s cash reserves now stand at $2.19 billion, while its crypto stash is at 671,268 Bitcoin (BTC).
A filing with regulators shows Strategy sold 4.535 million shares of its Class A common stock (MSTR) during the Dec. 15-21 period, generating $747.8 million in net proceeds through its at-the-market offering program. The company did not sell any preferred stock during the period.
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