Strategy raises $2 billion through MSTR sales and creates new USD Cash pool

Bitcoin treasury firm Strategy MSTR$120.10·引け時 raised approximately $2 billion last week through the sale of 18.26 million shares of common stock, according to a filing on Monday.

Strategy allocated $300 million of the proceeds to its USD Reserve and used $136.4 million to repurchase 1.43 million shares of its variable-rate preferred stock, STRC. The remaining proceeds were directed towards a newly established liquidity pool called “USD Cash.”

Strategy held $5.1 billion in its USD Reserve and $1.59 billion in USD Cash as of Aug. 23, giving the company total dollar liquidity of $6.69 billion.

The USD Reserve remains designated to support dividend payments on Strategy’s preferred stock and interest payments on its outstanding debt. The new USD Cash pool provides greater flexibility and can be used to acquire bitcoin, repurchase MSTR or preferred shares, repay convertible notes, increase the USD Reserve or meet other corporate purposes.

Strategy said the additional flexibility would allow management to respond more quickly to market conditions, including dislocations in bitcoin or the company’s securities.

The company did not buy or sell any bitcoin during the week ended Aug. 23, leaving its holdings unchanged at 840,447 BTC ($65.6 billion) for a second consecutive week. The holdings were acquired for $63.36 billion at an average price of $75,385 per bitcoin, including fees and expenses.

Strategy has now repurchased approximately $483.4 million of preferred stock under its $1 billion Digital Credit Securities Repurchase Program, leaving $516.6 million available. Its separate $1 billion MSTR common-stock repurchase authorization remains untouched.

MSTR rose around 1.2% higher at nearly $121 in pre-market trading on Monday , while STRC traded at $96.49. Bitcoin was trading above $78,000.