MSTR
Cashing in, literally
Strategy spent last week doing what Strategy does best: turning its own stock into more ammo for the Bitcoin treasury machine. The company sold 18.26 million MSTR shares and pulled in $2 billion, just as Bitcoin’s sharp rally dragged its 840,447-BTC pile back into profit.
Where the money went
The cash didn’t just sit there looking pretty. According to Monday’s 8-K, Strategy:
- added $300 million to its USD Reserve
- used $136.4 million to repurchase 1.43 million STRC preferred shares
- parked the remaining $1.59 billion in a new liquidity bucket called USD Cash
That new pool is basically management’s “do whatever, whenever” fund for the Bitcoin strategy. Buy more BTC? Repay notes? Buy back shares? Top up reserves? It all lives there now.
Bitcoin finally stopped being a house of cards
Strategy says it hasn’t bought or sold any Bitcoin for a second straight week, leaving holdings unchanged at 840,447 coins. Those were acquired at an average price of $75,385 each, which means Bitcoin trading near $78,000 puts the position back in the green — about $2.4 billion in unrealized profit, give or take.
Big picture
This is classic Strategy: raise equity, stack liquidity, and keep the Bitcoin thesis humming. If BTC keeps climbing, the company looks smarter by the day. If it stumbles, well, the new cash pile is there to soften the landing.