Strategy sells $467 million in stock but leaves Bitcoin untouched
Strategy, the largest corporate holder of Bitcoin, raised additional capital last week by selling MSTR stocks through its at-the-market offering program. However, the size of its Bitcoin reserves remained unchanged.
According to a filing submitted to the U.S. Securities and Exchange Commission on Monday, Strategy sold 4.8 million shares of Class A common stock for a total of $466.7 million between July 6 and July 12.
The company did not buy or sell any Bitcoin during the period. It continued to hold 843,775 BTC, acquired at an average price of $75,476 per coin.
Investors continue to watch how Strategy balances new stock issuance, Bitcoin accumulation and the expansion of its preferred stock lineup as part of its BTC-focused corporate strategy.
Strategy’s cash reserve rose to $3 billion
As of July 12, Strategy’s U.S. dollar reserve had increased to $3 billion, up from $2.55 billion a week earlier. The funds are intended to finance preferred stock dividends and interest payments on outstanding debt.
The reserve includes expected proceeds from MSTR stocks sold through the ATM program that had not yet settled as of the reporting date.
Under its current ATM program, Strategy has up to $23.8 billion of remaining capacity. This amount includes a new $21 billion offering announced by the company on March 23.
Strategy said it may begin selling stocks under the additional programs once the available capacity under its existing offerings has been largely exhausted.
Strategy’s Bitcoin strategy
Strategy is known for its corporate Bitcoin strategy, under which the company treats BTC as its primary long-term reserve asset. It regularly raises capital through offerings of common and preferred stocks, as well as debt instruments, and directs a significant portion of the proceeds toward Bitcoin purchases.
Strategy’s management has repeatedly said that the company does not plan to sell its accumulated BTC reserves as part of ordinary liquidity management. Its approach is based on holding Bitcoin for the long term and continuing to expand its reserves, meaning that any sale of coins could be viewed by the market as a significant departure from its previous strategy.
As a reminder, Strategy reported last week that it had sold 3,588 BTC for approximately $216 million to fund dividend payments.
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