Strategy Raises $544.5M Through MSTR Share Sales, Skips Weekly Bitcoin Purchase

Strategy raised $544.5 million in net proceeds through the sale of 5.43 million MSTR shares between July 20 and July 26, while repurchasing 288,930 shares of its STRC preferred stock for $25 million, according to the company’s latest update.

The company’s Bitcoin portfolio remained unchanged during the reporting period at 843,775 BTC. Strategy said it has invested a total of $63.69 billion in the cryptocurrency, representing an average acquisition cost of $75,476 per Bitcoin. Its U.S. dollar reserve increased to $3.75 billion.

Strategy also said it intends to continue repurchasing STRC preferred shares whenever they trade below $100 per share. The company has approximately $975 million remaining under its existing buyback authorization.

According to the update, future STRC repurchases will not be funded from the company’s U.S. dollar reserve. Instead, buybacks may be financed through additional MSTR share sales or Bitcoin sales, depending on market conditions. 

Following the announcement, Bitcoin remained above $65,000 and was trading about 1.2% higher over the past 24 hours.

Source: Strategy