Strategy Pauses Bitcoin Purchases, Builds $1.59 Billion Cash Reserve

• Strategy’s Bitcoin holdings remained unchanged at 840,447 BTC for a second straight week.
• The company reported $1.59 billion in its new USD Cash reserve.

Strategy, the largest corporate holder of Bitcoin, did not buy or sell any Bitcoin during the week ended August 23, leaving its holdings unchanged at 840,447 BTC for a second consecutive week.

At the same time, the company built up its dollar liquidity, reporting $1.59 billion in a new reserve called “USD Cash.” The company said the reserve can be used for future Bitcoin purchases, interest payments on outstanding debt and share repurchases.

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The moves give Strategy more flexibility while it maintains its large Bitcoin position without adding to it.

Stock Sales Generate $2 Billion

According to a filing with the US Securities and Exchange Commission (SEC), Strategy sold 18,261,118 shares of common stock through its at-the-market issuance program between August 17 and August 23, generating $2.0065 billion in net proceeds.

The company allocated $300 million to its general US dollar reserves and used $136.4 million to repurchase STRC shares. The remaining approximately $1.5701 billion was allocated to the USD Cash reserve.