Michael Saylor's Strategy boosted cash reserve to $3.75 billion, repurchased $25 million of STRC
Michael Saylor's company, MicroStrategy, has bolstered its cash reserves to $3.75 billion through stock sales and repurchased $25 million of its preferred stock. The company maintains its significant bitcoin holdings while market sentiment remains cautiously optimistic.
Why it matters
MicroStrategy's aggressive financial strategy and massive bitcoin exposure make it a bellwether for institutional crypto investment trends.
That $3.75 billion is enough for 2.1 years of preferred stock dividend coverage, according to Executive Chairman Michael Saylor.
The money was raised through sales of more than 5.4 shares of common stock, per an SEC filing Monday morning.
A small portion of the raised money last week — $25 million — was used to buy back 288,930 shares of its high-yielding preferred stock STRC.
The company made no changes to its bitcoin holdings, which remain at 843,775 coins.
MSTR and its high-yielding preferred stock STRC are each higher by about 2.5% pre-market as bitcoin rose to $65,000 over the weekend.
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