Saylor's Strategy raises cash reserves to $3.2 billion, leaving bitcoin holdings unchanged

MicroStrategy, the company led by executive chairman Michael Saylor, raised approximately $225 million in cash last week by selling over 2.7 million shares of its common stock through its at-the-market equity program. This stock sale increased the company's U.S. dollar reserves to about $3.225 billion while its bitcoin holdings remained unchanged. According to a regulatory filing, the stock sales generated roughly $263.5 million.

The move to raise cash comes after MicroStrategy executed a rare bitcoin sale earlier in the month, offloading approximately $216 million worth of bitcoin. This sale marked the company’s first significant reduction in its bitcoin holdings after years of accumulation. The bitcoin monetization program includes plans to potentially sell up to $1.25 billion of its BTC stash to boost liquidity and support dividend payments.

MicroStrategy remains the largest corporate holder of bitcoin, with a treasury of 843,775 BTC valued at about $54.6 billion at the current bitcoin price of roughly $64,700. The company’s effort to rebuild its cash reserves is part of a broader strategy to manage its complex financing model and preferred stock dividend obligations amid recent pressures in the crypto market downturn. The latest share sale has been met positively in pre-market trading, with MicroStrategy’s stock rising 1.2% to $96.