Strategy boosts cash reserves to $2.2B, pauses Bitcoin purchases

Key Takeaways

• Strategy said its US dollar reserve, set up earlier this month to meet dividend and interest obligations, increased from $1.4 billion to $2.2 billion.
• The company skipped new Bitcoin purchases last week.

Strategy paused Bitcoin purchases last week while boosting its cash reserves to $2.2 billion, the company said in a filing on Monday. The company currently holds 671,268 Bitcoin valued at over $60 billion at current market prices.

Between December 15 and 21, Strategy sold 4.5 million MSTR shares via its ATM offering, netting approximately $748 million. These proceeds boosted the company’s cash reserves from $1.4 billion to $2.2 billion, strengthening a fund established earlier this month to service debt interest and preferred dividends.

Strategy said the maintenance, terms, and amount of this reserve remain subject to its sole discretion and may be adjusted based on market conditions, liquidity needs, and other factors.

Strategy still has $11.8 billion in common stock available for issuance and sale under its at-the-market program. The company also has four series of preferred stock available for sale, with amounts ranging from $1.6 billion to $20.3 billion.