Strategy Goes Another Week Without Buying - Or Selling - Bitcoin, Builds Up Cash Reserve

Bitcoin Magazine

Strategy Goes Another Week Without Buying — Or Selling — Bitcoin, Builds Up Cash Reserve 

Bitcoin treasury Strategy has gone another week without buying the leading cryptocurrency — but didn’t sell any this time.

The Nasdaq-listed company said Monday in a regulatory filing that it had upped its cash buffer by selling 3,458,866 shares of MSTR common stock to generate $333.7 million.

Strategy used $52.4 million to pay dividends on its STRC preferred stock, then spent $132.2 million to buy the stock back. It also added $149.1 million to its dollar reserve.

Strategy — formerly MicroStrategy — has recently pivoted to common stock sales to build up its cash reserves, rather than buying Bitcoin.

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