Strategy Raises $602 Million, Allocates Funds to Bitcoin and STRC Support
Strategy Inc., a company known for its investments in Bitcoin and other assets, recently raised $602.8 million by selling a portion of its common shares.
The sale, which took place between August 24th and 31st, saw the company offload 4,531,421 MSTR common shares at an average price of $80,318 per share.
After splitting the proceeds among several uses, Strategy allocated a significant portion towards buying more Bitcoin. The company purchased 4,603 BTC during this period at an average price of $80,318, bringing its total holdings to 845,050 BTC.
In addition to accumulating Bitcoin, Strategy also used some of the funds for STRC preferred stock support. The company repurchased 1,557,177 STRC shares and paid out $50.7 million in STRC dividends.
The remaining $30 million was added to its USD Cash account.