Strategy raises 2.0065 billion USD, holds 1.59 billion USD cash without Bitcoin purchase

Strategy, formerly MicroStrategy, raised 2.0065 billion USD by selling 18,261,118 common shares from Aug. 17 to Aug. 23, without purchasing Bitcoin. The company allocated 136.4 million USD to repurchase 1,431,212 shares of preferred stock and transferred 300 million USD to its USD Reserve, leaving 1.5701 billion USD in cash. As of Aug. 24, Strategy reported 5.10 billion USD in reserves and 1.59 billion USD in cash, holding 840,447 BTC at an aggregate cost of 63.36 billion USD, averaging 75,385 USD per coin. The cash can be used for various purposes, including acquiring Bitcoin or repurchasing shares, but does not commit to any specific action. The issuance of new shares increased the basic share count by about 4.59%. Strategy retains 516.6 million USD for preferred security repurchases and 1 billion USD for MSTR repurchases, competing with potential Bitcoin purchases. The management has not set a fixed threshold for deploying cash, leaving the 1.59 billion USD as optionality.

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