Strategy has raised its U.S. dollar reserve to $3 billion through sales of common stock. The move comes after the company paused Bitcoin purchases and sold some holdings earlier this month.
Strategy increased its cash reserve by $466.7 million last week, bringing the total to approximately $3 billion. The funds were raised via an at-the-market equity program and will support dividend payments on preferred stock as well as interest on debt.
The company's Bitcoin holdings remained unchanged at 843,775 BTC. Strategy has not purchased any Bitcoin since June 22 and sold 3,588 BTC in late June, generating about $216 million.
The reserve now provides 20.4 months of coverage for preferred-stock dividends and debt interest, which total roughly $1.76 billion annually. Shares of MSTR fell 3 percent in pre-market trading as bitcoin traded around $62,800.
