Strategy Raises $2B Selling MSTR Stock, Establishes 'USD Cash' Pot

In brief

• Strategy has not bought Bitcoin since June, and has now gone a second straight week without selling any either.
• It raised $2.01 billion net selling MSTR stock, six times the previous week's total.
• Most of that went into USD Cash, a newly created pool the company said may be used to acquire Bitcoin.

Strategy raised just over $2 billion selling its own shares last week without touching its Bitcoin, according to an 8-K filed Monday, and put most of the proceeds into a liquidity account it created the same day.

The Bitcoin treasury company sold 18,261,118 MSTR shares for $2.01 billion net, an average of about $109.88 each, against $96.48 a week earlier. Of that, $136.4 million went to buying back STRC preferred stock and $300 million into its dollar reserve, with the remaining $1.57 billion going into the new account.

That account, USD Cash, is described in the filing as a separately designated pool of dollar liquidity held for general Bitcoin treasury purposes. The list of those purposes is broad: acquiring Bitcoin, paying preferred dividends and interest, repurchasing MSTR or preferred stock, repaying or redeeming convertible notes, and topping up the dollar reserve. It stood at $1.59 billion as of August 23.