Strategy Boosts USD Cash Pool to $1.59B Amid BTC Price Surge
Strategy made no Bitcoin purchases or sales during the latest week and continued to hold 840,447 BTC. The company's new 'USD Cash' pool held $1.59 billion as of August 24. This is separate from its existing USD Reserve, which stood at $5.10 billion.
The new USD Cash pool can be used for a range of corporate purposes, including buying Bitcoin, paying preferred-stock dividends, and repurchasing shares. Strategy said the additional flexibility should allow it to respond more quickly to market conditions.
MSTR stock gained over 3% in pre-market trade as Bitcoin's price rose nearly 2% to $78,900 from around $64,000 last week. The rally put MSTR's BTC holdings in the green, with an average acquisition price of $75,385.