Strategy (MSTR) Stock: Saylor Says Buybacks Not a Priority as Cash Reserve Reaches $4.8 Billion
TLDR
- Strategy raised $333.7 million through MSTR stock sales last week but bought zero Bitcoin
- Bitcoin holdings remain unchanged at 840,447 BTC, acquired at an average price of $75,385
- Michael Saylor said stock buybacks are not a priority, though he left the door open if MSTR trades at a deep discount to NAV
- Strategy now holds $4.8 billion in U.S. dollars to cover STRC dividends and debt obligations
- MSTR is down about 38% this year and 73% year-over-year
Strategy raised $333.7 million by selling 3.46 million MSTR common stock between August 10 and August 16, according to an 8-K filing with the SEC. Despite the fundraise, the company made no Bitcoin purchases during the period.
Its Bitcoin holdings remain at 840,447 BTC, acquired for a total of $63.36 billion including fees, at an average price of $75,385 per coin.
Of the $333.7 million raised, $52.4 million went to fund twice-monthly STRC preferred stock dividends. Another $132.2 million was used to repurchase around 1.39 million STRC shares. The remaining $149.1 million was added to Strategy’s U.S. dollar reserve.
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