Strategy Inc. disclosed Monday it has increased its US dollar reserve to $2.19 billion as of December 21.
The Bitcoin treasury company sold 4.54 million shares of MSTR common stock for $747.8 million in net proceeds during the week of December 15-21, according to a Form 8-K filing.
No preferred stock was sold during the period.
Strategy made no Bitcoin (BTC) purchases this week.
Its holdings remain at 671,268 BTC with an aggregate purchase price of $50.33 billion, representing an average cost of $74,972 per coin.
What Happened
The company established its USD Reserve on December 1 at $1.44 billion.
The cash buffer supports dividend payments on Strategy's multiple classes of preferred stock and interest on outstanding debt.
Strategy maintains four preferred stock series - STRF, STRC, STRK, and STRD - alongside its MSTR common stock.
The filing shows over $41 billion in aggregate capacity remaining across various equity programs.
Strategy's at-the-market offering program allows the company to raise capital through controlled stock sales.
The company has used this mechanism extensively in recent weeks to fund both Bitcoin acquisitions and its cash reserve.
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Why It Matters
Strategy's decision to prioritize liquidity over Bitcoin accumulation signals a strategic shift.
The company previously purchased 10,645 BTC for $980.3 million during December 8-14, maintaining its aggressive buying pattern.
The pause in purchases comes as Bitcoin trades around $96,000, down from recent highs above $100,000.
Strategy's USD Reserve provides flexibility to manage obligations without forced Bitcoin sales during market volatility.
The company disclosed that maintaining the reserve "remains subject to Strategy's sole and absolute discretion."
Strategy can adjust the reserve based on market conditions, liquidity needs, and other factors.
The larger cash buffer addresses investor concerns about the company's ability to service its preferred dividends and debt payments amid cryptocurrency market swings.
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