Strategy boosts cash reserves to $2.2B, pauses Bitcoin purchases
Crypto Briefing
Strategy paused Bitcoin purchases while increasing its cash reserves to $2.2 billion by selling shares.Summary
Strategy paused its Bitcoin purchases during the week ending December 21 after successfully boosting its US dollar reserves to $2.2 billion, up from $1.4 billion. This increase was largely facilitated by selling 4.5 million shares of its Class A common stock through its ATM offering program, which generated net proceeds of approximately $748 million between December 15 and December 21. As of December 21, Strategy still held 671,268 Bitcoin, purchased at an average price of $74,972 per coin. The company established the dollar reserve on December 1 to cover dividend and interest obligations, and it retains significant capacity for future stock issuance under its at-the-market program.
(Source：Crypto Briefing)