Strategy said it used $52.4 million from its Bitcoin sale to fund preferred stock dividends, while another $52.3 million was allocated to repurchasing STRC preferred shares. The company also raised over $290 million through the sale of approximately 3 million MSTR shares under its ATM program. It directed $250 million of the proceeds to its USD Reserve, $28.9 million toward STRC repurchases, and $11.7 million to its cash balance. AdvertisementIncluding the expected proceeds from unsettled ATM share sales, Strategy’s USD Reserve totaled $4 billion as of August 2. The executive also defended Strategy’s Bitcoin monetization program, saying recent sales represent only a tiny percentage of total holdings and would strengthen the balance sheet.