Bitcoin treasury firm Strategy went a fifth straight week without buying Bitcoin, adding $525 million to its cash reserve instead and lifting the balance to $3.75 billion.
Strategy sold 5,429,160 shares of MSTR common stock through its at-the-market program between July 20 and July 26, generating $544.5 million in net proceeds, the company said in an announcement
Its Bitcoin holdings stayed at 843,775 BTC, untouched since a purchase of 520 BTC for $35 million disclosed on June 22. Strategy said the reserve covers 2.1 years of dividend payments, against the $1.76 billion it owes each year in preferred dividends and debt interest. The filing also disclosed Strategy’s first buyback of its own preferred stock, 288,930 Stretch (STRC) shares for $25 million.
The purchase drew on the $1 billion Digital Credit Securities Repurchase Program the board approved on June 29, leaving $975 million available, alongside an untouched $1 billion authorization for common stock. STRC has traded below its $100 “par value” since mid-May, notching record lows earlier this month. Per Yahoo!