Strategy raises $263.5M through MSTR sales, holds 843,775 Bitcoin
Strategy raised $263.5 million by selling 2.73 million Class A shares through its at-the-market program from July 13 to July 19. It did not buy or sell any Bitcoin during that period, leaving holdings unchanged at 843,775 BTC, acquired for about $63.69 billion at an average cost of $75,476 per coin. The latest share sales lifted its U.S. dollar reserve to $3.225 billion, up from $3 billion a week earlier. That reserve is intended to support preferred-stock dividends and debt interest payments. Strategy still has about $23.5 billion of remaining capacity under its common-stock ATM program. The update comes amid debate over the valuation of its STRC preferred stock, with some investors arguing it may be undervalued relative to its cash-flow support and potential upside if Bitcoin strengthens the balance sheet.
