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Strategy Again Boosts Cash Reserves And Leaves Bitcoin Unchanged
['July', 'Min Read']
Yahoo Finance
Cryptocurrency treasury firm Strategy (NASDAQ: $MSTR) has again chosen to raise its cash reserves and leave its Bitcoin (CRYPTO: $BTC) holdings unchanged.
Over the past week, Strategy, led by Chairman Michael Saylor, lifted its cash reserves to $3.75 billion U.S. after raising an additional $544.5 million U.S.That $3.75 billion U.S. of cash is enough for 2.1 years of preferred stock (NASDAQ: $STRC) dividend coverage, said Saylor in a social media post.
More From Cryptoprowl:The money was raised through the sale of more than 5.4 million shares of Strategy's common stock.
A small portion of the money raised last week, $25 million U.S., was used to buyback 288,930 shares of Strategy's high-yielding preferred stock.
The company made no changes to its Bitcoin holdings, which remain steady at 843,775 coins.