Strategy Establishes $1.59B Pool for Bitcoin Purchases

Strategy, the largest corporate holder of Bitcoin in the world, has established a $1.59 billion pool to spend on BTC whenever it wants.

The new cash reserve, named 'USD Cash', is separate from Strategy's original USD Reserve and can be used for various purposes such as buying BTC, paying dividends, and repurchasing shares.

As of August 23, Strategy's USD Cash has a balance of $1.59 billion, while its USD Reserve sits at $5.10 billion, totaling about $6.69 billion in cash dollars.

The firm reported that it did not sell any Bitcoin during the week ending August 23 and still holds 840,447 BTC bought for an aggregate $63.36 billion at an average of $75,385 a coin.