Strategy Raises Cash to $1.4B, Buys 520 Bitcoin at $67,068
ASST•Strategy added 520 Bitcoin for $34.9 million at a $67,068 average price while cash reserves rebounded from $1.1 billion to $1.4 billion after paying an $800 million convertible note. Suspension of ATM share issuance during STRC trading below par leaves Bitcoin buying reliant on dilutive stock sales.
1. Cash Reserve Rebound
Cash reserves at Strategy climbed to $1.4 billion this week, up from $1.1 billion last week and spiking from a trough near $100 million after the $800 million convertible note repayment. Management aims to reassure investors on STRC dividend coverage by rebuilding liquidity.
2. Bitcoin Acquisition Details
Strategy purchased 520 Bitcoin for $34.9 million at an average cost of $67,068 per coin. With STRC trading below its $100 par value and ATM issuance suspended, new purchases depend on dilutive stock sales, stirring shareholder concern.
3. Competitive Bitcoin Buying by Rival
Rival Strive bought 759 Bitcoin this week, surpassing Strategy’s acquisition and highlighting intensified competition in digital asset accumulation.
