Strategy raises $334M, skips Bitcoin purchase

Strategy, the corporate Bitcoin holder, raised $333.7 million last week through sales of its common stock but did not use the proceeds to purchase or sell any Bitcoin, marking a pause in its recent pattern of digital asset disposals. The company's holdings remained unchanged at 840,447 BTC.

According to a Form 8K filing with the U.S. Securities and Exchange Commission on August 17, Strategy sold 3,458,866 shares of its MSTR common stock between August 10 and August 16 through its at-the-market offering program. The company allocated the proceeds to three primary areas: $52.4 million was used to fund bi-monthly dividends on its STRC preferred stock, $132.2 million was directed toward repurchasing STRC shares, and the remaining $149.1 million was added to its U.S. dollar reserve.

The repurchase activity brought in approximately 1.39 million STRC shares, leaving about $653 million of the $1 billion authorized under the Digital Credit Securities Repurchase Program still available. A separate $1 billion authorization for MSTR common stock buybacks remains unused. The company reported no repurchases of its other preferred securities or its common stock during the period.