Michael Saylor's Strategy sold 3.46M MSTR shares to fund preferred dividends, buy back STRC stock, and expand its USD reserve to $4.8B, leaving its Bitcoin stack untouched
Strategy (formerly MicroStrategy) has sold approximately $333.7 million worth of MSTR common stock, according to an 8-K filing with the SEC on Monday.
The largest crypto treasury company disclosed that it sold 3,458,866 MSTR shares between Aug. 10 and Aug. 16. Strategy did not buy or sell any Bitcoin during the period, leaving its treasury stack unchanged.
You can interact directly with Strategy’s entity page on Arkham below.
(Note: Arkham has de-anonymized 83% of Strategy’s BTC stack, with 184K BTC held with Fidelity Custody.)
The firm directed the capital raised from the equity sales into three primary areas to support its balance sheet and capital structure:
- $52.4 million in net proceeds were used to fund dividend obligations on Strategy's STRC preferred stock.
- $132.2 million went toward buying back shares of STRC.
- $149.1 million was added to Strategy's cash holdings, bringing the total USD reserve to $4.8 billion.
The latest share sales continue Strategy’s Digital Credit Capital Framework strategy. The framework was introduced to manage the firm's $1.76 billion in annual preferred dividend and interest commitments while stabilizing its perpetual preferred stock, STRC, to get it back to its $100 par value. (At the time of writing, STRC is worth around $95. It dipped as low as $75 in June.)
By raising cash via MSTR equity, Strategy has expanded its fiat reserve to $4.8 billion - providing a liquidity runway of over two and a half years to cover its dividend and debt obligations. This Week, it has added to its cash reserve without selling BTC.
Last week, Strategy reported selling 1,690 BTC ($109M). Strategy also reported selling 1,638 BTC ($105M) the previous Monday.
After several weeks of no BTC acquisitions, Strategy’s Bitcoin holdings remain at 840,447 BTC. The company remains the largest corporate Bitcoin holder in the world.
You can track Strategy on Arkham using the de-anonymized Strategy entity: Strategy on Arkham. Arkham has de-anonymized the vast majority of Strategy's corporate BTC wallets. You can set real-time alerts and track their treasury transactions directly on the platform.
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