Strategy Inc. (NASDAQ:MSTR) raised $2 billion through stock sales last week as Bitcoin’s (CRYPTO: BTC) 24% surge flipped its 840,447 BTC position back into profit.
What the $2 Billion Raise Actually Covered
According to Monday’s 8-K filing, Strategy sold 18.26 million MSTR shares between Aug. 17 and Aug. 23, directing proceeds three ways.
It added $300 million to its USD Reserve, bringing the total to $5.1 billion. It used $136.4 million to repurchase 1.43 million STRC preferred shares. The remaining $1.59 billion went into a newly created liquidity pool called USD Cash.
Strategy made no Bitcoin purchases or sales during the week, leaving holdings unchanged at 840,447 BTC for a second straight week.
