Strategy Adds $525 Million to Cash Reserve, Halts Bitcoin Buys for Now

Michael Saylor's Strategy has continued to rebuild its cash reserve over the past month. As a result, it has put its Bitcoin purchases on hold for now.

On July 27th, Strategy announced that it had raised an additional $525 million in USD, increasing its cash pile and allowing it to cover 2.1 years of dividend payments.

This move comes after the company's stretch stock, STRC, dropped significantly in value in late Q2, prompting Strategy to reassess its focus. STRC has since recovered some of its losses but remains below its par price of $100.

Strategy's Bitcoin stash remains unchanged at 843,775 BTC, currently valued at over $56 billion given the asset's price of $65,000.