MicroStrategy Holds onto 840,447 Bitcoins Amid Dollar Reserve Surge

Strategy Inc., the parent company of MicroStrategy (MSTR), announced that it maintained its Bitcoin holdings at 840,447 BTC through August 16. This comes after a period where the company did not make any purchases or sales of the cryptocurrency.

The decision to keep its Bitcoin reserves unchanged was made in light of common-stock sales generating $333.7 million in net proceeds during the same period. These funds were used to increase Strategy's U.S. dollar reserve, which now stands at a record $4.8 billion.

This growth in the company's cash reserve is largely due to MSTR stock sales and repurchases of 1,388,720 STRC shares for $132.2 million. The remaining funds from these transactions were used to fund dividends on preferred stock.