Bitcoin buying paused as strategy increases cash holdings by $748M

Strategy (MSTR), the largest publicly traded holder of bitcoin, increased its cash reserves by $747.8 million last week.

The company’s “USD Reserve,” used to pay dividends on preferred stock, now stands at around $2.2 billion, according to a Monday SEC filing. The entire boost came through the sale of common shares, and the reserve is now sufficient to cover 32 months of preferred dividends.

In raising cash, Strategy paused bitcoin purchases after adding roughly $1 billion over the previous two weeks. The firm continues to hold 671,268 BTC, initially purchased for just over $50 billion and currently valued at about $60.4 billion, based on bitcoin’s price near $90,000.

MSTR shares were up 3% in premarket trading, reflecting bitcoin’s modest weekend gains, though the stock remains down more than 40% year-to-date.

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