Strategy ( MSTR ), the largest publicly traded holder of bitcoin, increased its cash reserve by $747.8 million last week.
The company’s “USD Reserve” — calculated as a fund through which Strategy can pay dividends on its preferred stock — now stands at about $2.2 billion. This latest capital raising came entirely via the sale of the company’s common stock, according to a Monday filing with the SEC.
With the $2.2 billion, the reserve is now large enough to fund 32 months of preferred dividends.
To boost its cash balance, Strategy chose not to add any bitcoin after two consecutive weeks of buying around $1 billion. The company continues to have 671,268 BTC purchased for just over $50 billion and worth about $60.4 billion based on BTC’s current price of around $90,000.
MSTR is higher by 3% pre-market along with bitcoin’s modest weekend rise in price. The stock is still lower by more than 40% year-to-date.
