How is Strategy building a $4.8 billion cash pile without touching its Bitcoin?

Michael Saylor’s Strategy [MSTR] is building up its cash reserves… without moving away from Bitcoin [BTC]. In fact, it looks like while there’s a focus on liquidity and financial flexibility right now, the long-term BTC play is still very much in place.

Here’s what you need to know.

Strategy pauses BTC sales, raises cash reserves

Strategy ended a big series of weekly sales recently, a series that has been historically used to fund dividends and share buybacks. The firm did not buy or sell any Bitcoin last week.

Instead, the company raised about $333.7 million by selling MSTR shares. Of that, roughly $149.1 million was added to its dollar reserve, taking the total cash buffer to $4.8 billion.

Another $132.2 million went towards buying back STRC preferred stock. Additionally, $52.4 million was used for STRC dividends.

As far as its Bitcoin holdings were concerned, they remained unchanged at 840,447 BTC at press time. They were bought at an average price of $75,385.

Are Bitcoin ETFs in the green?

As per data from SoSoValue, Spot Bitcoin ETFs saw about $389.7 million in net outflows at the time of writing. Total net assets were at about $76.6 billion.

The greater trend’s been choppy, with outflows since May interrupted by occasional inflows.