Key Takeaways
CryptoSlate reports Strategy raised $602.8M from stock sales, allocating $369.7M to Bitcoin and $202.5M to STRC.
According to CryptoSlate, Strategy raised $602.8 million by selling 4,531,421 MSTR common shares over one week. The company divided the proceeds among a Bitcoin purchase, support for its STRC preferred stock, and a cash increase.
An Aug. 31 filing showed that $369.7 million went toward purchasing Bitcoin, $151.8 million was used to repurchase 1,557,177 STRC shares, $50.7 million funded STRC dividends, and $30 million was added to the USD Cash account. Strategy purchased 4,603 BTC between Aug. 24 and Aug. 30 at an average price of $80,318, bringing its total holdings to 845,050 BTC. The company reported an aggregate purchase cost of $63.73 billion and an average cost of $75,412 per BTC for its entire position.
Following the transactions, Strategy reported $1.61 billion of USD Cash and a $5.1 billion USD Reserve as of Aug. 30. The $30 million added to USD Cash represents a flexible account that the company stated may be used for capital management, corporate purposes, expanding its reserve, or future Bitcoin purchases.
Source & Fact-Check Note
This report is synthesized from coverage by CryptoSlate. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at CryptoSlate ↗
