Strategy (MSTR), the largest publicly traded Bitcoin holder, increased its cash reserve by $747.8 million last week.
The company’s “USD reserve” – intended as a fund through which Strategy can pay dividends on its preferred shares – now stands at around $2.2 billion. This latest capital increase was accomplished entirely through the sale of the company’s common stock, according to a filing Monday with the SEC.
At $2.2 billion, the reserve is now large enough to fund 32 months of preferred dividends.
In increasing its cash balance, Strategy opted not to add bitcoin after two consecutive weeks of purchases worth approximately $1 billion. The company continues to hold 671,268 BTC purchased for just over $50 billion and worth around $60.4 billion, based on the current BTC price of around $90,000.
MSTR is 3% higher premarket, alongside Bitcoin’s modest price rally over the weekend. The stock remains down more than 40% since the start of the year.
