Michael Saylor’s Strategy Creates $1.59B Cash Pool, Bitcoin Holdings Unchanged
Highlights
- Strategy has created a $1.59 billion cash pool, which it plans to use for BTC treasury purposes.
- The company's Bitcoin holdings remain unchanged at 840,447 BTC.
- Strategy also repurchased just over $136 million worth of STRC shares.
Bitcoin treasury firm Strategy has created a seperate cash pool, which it plans to use for BTC treasury purposes, including potential purchases. The company also maintained its STRC buy, repurchasing just over $136 million worth of shares last week.
Strategy Builds Cash Pool as Bitcoin Holdings Remain Unchanged
An SEC filing shows that the Bitcoin treasury firm has established a “USD Cash” pool as part of its Digital Credit Capital Framework, which it plans to use for future treasury purposes, including acquiring Bitcoin, making dividend payments, and buying back stock. The company noted that its USD Reserve policy remains unchanged.
The USD Cash pool currently stands at $1.59 billion, while its USD Reserve stands at $5.10 billion. Meanwhile, Strategy again sold its common stock last week, selling just over $2 billion worth of MSTR shares.
This follows the previous week’s MSTR stock sales, with proceeds being used to repurchase STRC shares and increase the USD Reserve. This time, the company used the net proceeds from the MSTR stock sale to repurchase STRC shares, increase the USD Reserve, and build the cash pool.
Strategy bought 1.4 million STRC shares, worth just over $136 million. The company has maintained the STRC buybacks as the preferred security trades below its par value of $100. The STRC stock is currently trading at around $96.55, up in premarket trading today.
Bitcoin Holdings Unchanged
Strategy’s Bitcoin holdings remain unchanged as the company did not buy or sell any BTC last week. It currently holds 840,447 BTC, which it bought for $63.36 billion at an average price of $75,385 per BTC.
The Bitcoin treasury company has not bought any BTC since June 22, when it reported buying 520 BTC. Meanwhile, its last sale came earlier this month, when it sold 1,690 BTC.
Strategy’s Bitcoin position flipped into profit last week as the BTC price climbed from a low of around $63,000 to nearly $80,000. The MSTR stock also climbed to a monthly high above $120.
The stock is up over 27% in the last month. Meanwhile, the stock is up over 3% today, trading around $123, while Bitcoin trades above $79,000. BTC has surged today as the U.S. Treasury could reportedly use its cash pile of nearly $1 trillion for its planned debt buybacks.
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