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

The company sold 4.5 million MSTR shares last week, raising approximately $748 million in net proceeds.

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.

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Strategy paused Bitcoin purchases during the week ending December 21 while boosting its cash reserves to $2.2 billion, the company said in a filing on Monday.

The company sold 4.5 million shares of its Class A common stock through its ATM offering program, generating net proceeds of approximately $748 million during the period from December 15 to December 21.

As of December 21, Strategy held 671,268 Bitcoin with an aggregate purchase price of $50.3 billion and an average purchase price of $74,972 per coin.

The company’s US dollar reserves, which it established on December 1 to support dividend payments on preferred stock and interest on outstanding debt, grew from an initial $1.4 billion to $2.2 billion as of December 21.

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.

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