Strategy raised $335.5 million last week through the sale of common stock, but only a small slice of that capital went into bitcoin. In a filing released Monday morning, the company said it sold about 2.7 million MSTR shares, used roughly $35 million of the proceeds to buy 520 BTC at an average price of $67,068, and placed the remaining $300 million into cash reserves.
Cash buildup tied to STRC dividend support
That move lifted Strategy’s cash holdings to $1.4 billion. The report said the larger cash position is meant to support dividend payments on the company’s high-yield preferred stock, STRC. Investor concern around STRC has risen in recent weeks, and selling pressure peaked on Thursday when the preferred shares fell below $83, setting a record low.
STRC later recovered into the close and gained another 2% Monday morning to $90.43. Even after that rebound, the shares remained well under their $100 par value, the level Michael Saylor had hoped to keep them near.
Total bitcoin holdings reached 847,363 BTC
After the latest purchase, Strategy’s total bitcoin holdings climbed to 847,363 BTC. The company said those coins were acquired at a total cost of about $64.01 billion, implying an average purchase price of roughly $75,651 per bitcoin. The latest update shows Strategy still adding to its bitcoin position, though at a much smaller scale than in prior buying periods, while placing more emphasis on liquidity.
In the stock market, MSTR was up 3.5% Monday as bitcoin rebounded to just under $65,000. The parallel move in the stock and the asset came as the company’s balance sheet strategy shifted toward holding more cash alongside its large BTC position.