Strategy has expanded its U.S. dollar reserve to $4.65 billion after selling Bitcoin and raising additional funds through a common-stock offering, while its BTC holdings declined to 840,447.
The Bitcoin treasury company said in a Monday filing that it sold 1,690 BTC last week for $108.6 million. It also raised $653.1 million by selling 6.59 million shares of its common stock.
Strategy used the $108.6 million generated from the Bitcoin sale to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC.
The latest BTC sale reduced the company’s holdings to 840,447 Bitcoin. Strategy paid a total of $63.36 billion to acquire its current stash, giving it an average cost basis of $75,385 per BTC. The 1,690 coins sold last week fetched an average of $64,262 each after transaction fees and expenses.
Of the $653.1 million raised through the common-stock sale, Strategy allocated $650 million to its U.S. dollar reserve. That reserve reached $4.65 billion as of Aug. 9, while the remaining $3.1 million was added to the company’s cash balance.
Following the transactions, Strategy has $785.2 million left to spend under its STRC preferred-stock repurchase program. It also has $1 billion remaining under its authorized MSTR common-stock buyback program.
MSTR and STRC were both up about 0.5% in Monday’s premarket trading, while Bitcoin held near $65,000.
