Strategy (NASDAQ: $MSTR) has left its holdings of Bitcoin (CRYPTO: $BTC) unchanged for a second consecutive week as it continues to build-up its cash reserves.
The world's largest corporate owner of Bitcoin raised its cash reserves by $225 million U.S. over the past week after selling some common stock, bolstering its liquidity.
Strategy's U.S. dollar reserves now stand at $3.23 billion U.S. while the company's Bitcoin stack remains steady at 843,775 BTC worth $54.5 billion U.S. at current prices.
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The company led by Chairman Michael Saylor sold more than 2.7 million shares for $263.5 million U.S. in proceeds as part of its at-the-market equity program.
Strategy has pivoted to focus on building up its cash reserve after its financing model and dividend-paying preferred stock (NASDAQ: $STRC) came under pressure from the crypto winter that began last October.
At the start of July, Strategy sold $216 million U.S. worth of Bitcoin, its first significant sale after years of near-continuous accumulation.
The company's board of directors recently approved a new Bitcoin monetization program that includes selling up to $1.25 billion U.S. of BTC for cash reserves and dividend payments.
Bitcoin is trading at $64,600 U.S. on July 20. MSTR stock has declined 78% over the last 12 months to trade at $94.85 U.S. per share.
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