Strategy Raises $334M via Stock Sales, Adds No Bitcoin
The company sold common stock to fund STRC dividends and buybacks and to lift its dollar reserve, leaving its Bitcoin holdings unchanged.
AfroEuropa Newsroom
AfroEuropa desk
Strategy raised roughly $334 million through the sale of common stock last week without adding to its Bitcoin holdings, according to reports from Cointelegraph, CoinDesk and Decrypt.
CoinDesk put the amount raised at $333.7 million and identified the raise as coming from the sale of common stock. The company is led by Executive Chairman Michael Saylor.
The proceeds went toward dividends on its STRC instrument and to repurchases, rather than Bitcoin purchases. According to Cointelegraph, $149.1 million was directed to the company's US dollar reserve, which reached $4.8 billion.
Decrypt reported that the move ended three consecutive weeks of Bitcoin sales, with the equity issuance covering dividends, an STRC buyback and additions to the dollar reserve. The firm's Bitcoin holdings were left unchanged over the period.
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