Strategy boosted cash reserve by $748 million last week

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coindesk
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11 hours ago


What to know : Strategy (MSTR) last week boosted its cash reserves by $747.8 million through sales of common stock. The cash reserve — now up to above $2.2 billion — is intended as a fund through which the company can draw to pay dividends on its preferred shares. MSTR fell in price over the past week, but is higher by 3% premarket alongside a bounce in bitcoin to above $90,000.

Strategy (MSTR), the largest publicly traded holder of bitcoin, lifted its cash reserve by $747.8 million last week..

The company's cash reserve — intended as a fund through which Strategy can pay the dividends on its preferred stock — now stands at roughly $2.2 billion. This latest capital raise came entirely via the sales of the firm's common stock, according to a Monday SEC filing.

Strategy continues to hold 671,268 bitcoin purchased for just over $50 billion and worth about $60.4 billion based on BTC's current price of roughly $90,000.

MSTR is higher by 3% premarket alongside bitcoin's modest weekend gain in price. The stock remains lower by more than 40% year-to-date.

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