Strategy sold shares of its own MSTR stock for the second week in a row, pulling in $225 million to pad its cash reserves. The company now holds $3.2 billion in cash, and notably didn't touch any of its Bitcoin during the sale.
The stock sale
This week's offering follows a similar move last week. Strategy has been leaning on equity sales rather than crypto sales to raise liquidity. The $225 million raised this time brings the two-week total to a figure the company hasn't disclosed, but the cash balance is now the highest it's been in months.
Cash reserves grow
With $3.2 billion on hand, Strategy has plenty of dry powder. The company has been known to use cash for acquisitions, operational expenses, or opportunistic Bitcoin buys. But this week, the priority was simply stacking more fiat.
Bitcoin untouched
Strategy's Bitcoin stash remains unchanged. The company didn't sell a single coin during the period, signaling that it still views its crypto holdings as a long-term asset rather than a piggy bank. That's a contrast to some other public crypto holders that have liquidated portions of their Bitcoin this year to cover costs.
The timing of the stock sale isn't accidental. MSTR shares have been trading at a premium to the company's net asset value, making equity issuance an efficient way to raise capital without diluting Bitcoin exposure. Whether Strategy will deploy that cash into more Bitcoin or hold it for a rainy day is the open question heading into next week.
