Michael Saylor’s Strategy Raises $333M Selling MSTR Stock, Leaves Bitcoin Stash Untouched

The pause in Strategy’s Bitcoin sales comes after the company sold 6,948 BTC for roughly $431.8 million since late May.

• Michael Saylor’s Strategy sold around 3.5 million MSTR stock for more than $333 million through its at-the-market program.
• About $149.1 million from the MSTR stock sale was added to Strategy’s USD Reserve, while the rest funded STRC preferred dividends and share repurchases.
• Strategy’s USD Reserve, intended to cover preferred dividends and debt interest, reached $4.80 billion.

Michael Saylor’s Strategy (MSTR) did not buy or sell any Bitcoin (BTC) over the past week, but the company continued to raise cash by selling its own stock.

According to an 8-K filing with the Securities and Exchange Commission (SEC), Strategy sold about 3.5 million shares of MSTR common stock through its at-the-market (ATM) program, generating more than $333 million in net proceeds.

The company allocated the proceeds across three areas. Around $52.4 million went toward STRC preferred dividends, $132.2 million was used to repurchase STRC shares, and the remaining $149.1 million was added to its USD Reserve.

MSTR stock gained around over 3% after market open, while Bitcoin’s price recovered from its weekend dip below the $63,000 mark. BTC was trading at around $63,500 at the time of writing, up 0.9% in the last 24 hours. MSTR was also among the top trending tickers on Stocktwits at the time of writing. Retail sentiment around MSTR and Bitcoin improved to ‘bearish’ from ‘extremely bearish’ territory over the past day. 

The Cash Cushion Keeps Growing

Strategy's latest filing shows the company continues to use equity as a source of liquidity rather than relying only on Bitcoin sales.

The company's USD Reserve, intended to cover preferred dividends and interest on debt, stood at $4.80 billion, according to the filing. The reserve has increased by roughly $1.5 billion in just three weeks.

The latest stock sale adds another $149.1 million to that cushion, while the remaining proceeds were directed toward STRC-related obligations.

Strategy Has Sold Bitcoin In Small Tranches

The pause in Bitcoin sales follows several reductions in Strategy’s Bitcoin holdings that began earlier this year. Since May, Strategy has sold about 6,948 BTC for approximately $431.8 million in proceeds. The latest sale came last week after the company sold 1,690 BTC for around $108 million. 

Strategy has also increasingly been using its MSTR stock to raise cash. In July, the company sold roughly 4.8 million MSTR shares for about $466.7 million. In August, it sold another 3.01 million shares for roughly $290 million, followed by 6.59 million shares worth about $653 million in a separate tranche.

Strategy has said these transactions are intended to fund preferred-stock dividends and build its USD Reserve, rather than signal a broader shift away from its Bitcoin treasury strategy.

MSTR’s Bitcoin stash currently stands at around 840,447 BTC, down from over 847,300 BTC at its peak. 

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