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Strategy Goes Another Week Without Buying, Or Selling, Bitcoin, Releases Up Cash Reserve

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Mathew Di Salvo.

Strategy last week sold MSTR shares for approximately $333.7 million and did not buy or sell any Bitcoin.

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Summary

Bitcoin treasury Strategy has gone another week without buying the leading cryptocurrency, but didn’t sell any this time. The Nasdaq-listed company said Monday in a regulatory filing that it had upped its cash buffer by selling 3,458,866 shares of MSTR common stock to generate $333.7 million. Strategy used $52.4 million to pay dividends on its STRC preferred stock, then spent $132.2 million to buy the stock back. Strategy, formerly MicroStrategy, has recently pivoted to common stock sales to build up its cash reserves, rather than buying Bitcoin.

Read full article at Bitcoin Magazine →

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