Strategy Raises $334M in Stock Sales, Leaves BTC Holdings Intact

Strategy, a company that owns Bitcoin (BTC), recently raised $334 million by selling shares of its own stock. This was done through an at-the-market offering, which allowed it to sell 3.46 million MSTR shares for an average price of $96.48 per share.

The proceeds from this sale were split between dividends on preferred stock, buybacks of that same stock, and adding to the company's dollar reserve. Specifically, Strategy paid out $52.4 million in dividends on its STRC preferred stock, used $132.2 million for repurchases of 1,388,720 STRC shares, and added $149.1 million to its dollar reserve.

This brings Strategy's dollar reserve up to $4.8 billion as of August 16th. The company still has $653 million available under a separate authorization for MSTR buybacks, which has not been drawn on yet.