Strategy has pushed back against skeptics with a fresh Bitcoin purchase and a strengthened cash position. Executive Chairman Michael Saylor announced on X that the company acquired 520 BTC for about $35 million, at an average price of $67,068 per coin. This brings Strategy's total Bitcoin holdings to 847,363 BTC.
Capital Deployment and Cash Buffer
The company also raised and retained an additional $300 million in cash, boosting its total USD liquidity reserve from $1.1 billion to $1.4 billion. Market analyst Adam Livingston noted that the capital deployment was highly accretive for equity holders, yielding an increase of 260 satoshis per share. Notably, only 10.4% of the newly raised capital was deployed into Bitcoin; the remaining 89.6% was kept as cash to reinforce the company's financial foundation.
Funding and Bearish Narratives
Strategy raised $335.5 million by issuing 2.7 million new Class A common shares (MSTR). For the fourth consecutive week, the company issued zero new preferred stock, relying on equity to protect its corporate capital structure. This move neutralized the bearish narrative of a liquidity crunch, which had emerged after Strategy's variable-rate perpetual preferred stock (STRC) fell below $100, prompting short-sellers to speculate that Saylor would be forced to sell BTC.