Strategy raises $467M without buying Bitcoin
- Strategy (NASDAQ:MSTR) raised US$466.7 million by selling shares through its ATM programme.
- The company kept its Bitcoin (CRYPTO:BTC) holdings unchanged at 843,775 BTC.
- Strategy increased its cash reserve as it prepares for upcoming preferred stock payments.
Strategy raised US$466.7 million by selling 4.8 million shares while keeping its Bitcoin (CRYPTO:BTC) holdings unchanged at 843,775 BTC.
The company sold the shares between July 6 and July 12 through its at-the-market programme and did not buy or sell any Bitcoin during that period.
Strategy said it holds its 843,775 Bitcoin at an average purchase price of US$75,476 per coin.
The company increased its US dollar reserve to US$3 billion from US$2.55 billion to support preferred stock dividends and debt payments.
Strategy shares fell about 3% before Monday's Nasdaq open, while Bitcoin traded near US$62,580, down more than 2% over 24 hours.
The company still has about US$23.8 billion available under its current share sale programme, including a US$21 billion facility announced in March.
Strategy continues using share sales, cash reserves, and Bitcoin holdings to support its long-term treasury strategy.
At the time of reporting, Bitcoin price was $62,242.80.
