Strategy Skips Bitcoin Buy, Adds $150M to Dollar Reserve

Strategy (MSTR) raised $333.7 million last week through the sale of 3.46 million common shares, but none of that money went toward bitcoin, according to a Monday filing.

No movement in the treasury

The company neither bought nor sold bitcoin during the week ended Aug. 16, leaving its stack unchanged at 840,447 BTC.

Those coins were acquired for $63.36 billion at an average price of $75,385 each, including fees and expenses.

Buybacks and dividends take priority

Of the proceeds, $132.2 million went to repurchasing 1,388,720 shares of STRC, the company’s variable-rate preferred stock.

Another $52.4 million covered STRC dividends, while roughly $150 million was added to the firm’s U.S. dollar reserve.

That reserve now stands at $4.80 billion as of Aug. 16, extending Strategy’s USD duration to 2.8 years.

The cash pile exists to service dividend payments on preferred stock and interest on outstanding debt.

Capacity left on the shelf

After last week’s activity, Strategy still has $653 million available under its preferred-stock repurchase program and $1 billion under the MSTR common-stock repurchase program.

MSTR shares rose 1.3% in premarket trading.

Bitcoin gained more than 1% over the past 24 hours to trade near $63,500, a level that sits well below Strategy’s average cost basis.