Strategy pauses BTC buys, launches $1.6B cash pool after $2B raise

Strategy held off on new Bitcoin buying, maintaining holdings at 840,447 BTC as it launched a $1.59 billion cash pool after raising $2 billion from MSTR stock sales.Strategy, the world’s largest public company holding Bitcoin, raised about $2 billion through common stock sales last week while making no new Bitcoin purchases.The Bitcoin treasury company sold 18.26 million MSTR shares between Aug. 17 and Aug. 23 through its at-the-market (ATM) offering program, according to a Monday filing with the US Securities and Exchange Commission.Strategy repurchased about 1.43 million of its STRC preferred shares for $136.4 million, added $300 million to its US dollar reserve and directed the remaining proceeds to a newly launched US dollar cash account. The company reported $5.1 billion in its reserve and $1.59 billion in the new cash account as of Sunday, bringing its total cash across the two pools to $6.69 billion.Source: StrategyStrategy said the new cash account gives management more flexibility to respond to market conditions and can fund purposes including Bitcoin purchases, preferred-stock dividends, debt payments and securities repurchases. The company made no Bitcoin purchases or sa...