Strategy (MSTR), the world’s largest corporate bitcoin holder, increased its cash reserve by about $225 million last week after selling common shares, bolstering liquidity and leaving its bitcoin holdings unchanged.
Michael Saylor, the firm’s chief executive, said on Monday that Strategy now has a US dollar reserve of $3.225 billion alongside its reserve of 843,775 BTC.
A regulatory filing showed the company sold more than 2.7 million MSTR shares for approximately $263.5 million through its stock market program.
MSTR rose 1.2% to $96 in pre-market trading along with a small rise in the price of bitcoin over the weekend to the current $64,700.
The latest update comes as Strategy has focused on rebuilding its cash reserve after its increasingly complex funding model and dividend-paying preferred stock structure came under pressure during the recent crypto market slowdown.
Earlier this month, the company revealed the sale of around $216 million worth of bitcoin, a rare reduction in its BTC holdings that marked its first significant sale after years of near-continuous accumulation. Before that, the company approved a new bitcoin monetization program that included selling up to $1.25 billion of its BTC reserve to boost cash reserves and fund dividend payments.
Strategy remains, by a wide margin, the largest corporate holder of bitcoins in the world. At bitcoin’s current price of $64,700, its treasury of 843,775 BTC is worth almost $55 billion.
