Strategy (MSTR), the largest publicly traded bitcoin holder, added $747.8 million to its cash reserves last week.
The company’s “USD Reserve,” which funds dividends on preferred stock, now stands at roughly $2.2 billion, according to a Monday SEC filing. The entire increase came from common stock sales and is sufficient to cover 32 months of preferred dividends.
After two consecutive weeks of buying about $1 billion in bitcoin, Strategy paused purchases. The company still holds 671,268 BTC, initially purchased for just over $50 billion and currently valued at approximately $60.4 billion, based on bitcoin’s price near $90,000.
MSTR shares were up 3% in premarket trading, reflecting bitcoin’s modest weekend gains, though the stock remains down more than 40% year-to-date.
