Strategy Raises $2B, Taps New Liquidity Pool Amid Flat Bitcoin Holdings

Strategy Inc., formerly MicroStrategy, has raised $2.01 billion through an at-the-market equity offering, selling 18.26 million shares between August 17 and August 23.

The proceeds were used to establish a new 'USD Cash' liquidity pool, add $300 million to its USD Reserve, and buy back $136.4 million of preferred shares.

Despite the significant capital raise, Strategy's Bitcoin holdings remained unchanged at 840,447 BTC.

This is not another Bitcoin accumulation announcement, but rather a capital-structure and liquidity story around the company that remains the most closely watched public Bitcoin treasury vehicle.