Bitcoin’s largest publicly traded holder, Strategy Inc. (MSTR), increased its cash reserves by $747.8 million last week.
The company’s “U.S. dollar reserve,” intended as a fund for Strategy to pay dividends on its preferred stock, currently stands at approximately $2.2 billion. The latest capital raise was made entirely through the sale of the company’s common stock, according to Monday’s SEC filing.
Its $2.2 billion reserves are currently large enough to cover 32 months of preferred dividends.
Strategy continues to hold 671,268 Bitcoins purchased for just over $50 billion, worth approximately $60.4 billion based on BTC’s current price of approximately $90,000.
MSTR rose 3% pre-market following Bitcoin’s modest price gains over the weekend. The stock remains down more than 40% since the beginning of the year.