MicroStrategy sells $467M in shares, holds 843,775 BTC
In brief
- MicroStrategy sold 4.8M MSTR shares for $466.7M, raising cash reserves to $3B
- Bitcoin holdings remained unchanged at 843,775 BTC during the July 6–12 period
- Company retains $23.8B in ATM offering capacity for future capital raises
Equity Sale Fuels Cash Position
Strategy sold 4.8 million shares of its Class A common stock for $466.7 million between July 6 and July 12 through its at-the-market (ATM) offering. The capital raise comes as the company prepares for its first semi-monthly dividend payment to STRC preferred stockholders on Wednesday.
Strategy increased its US dollar reserve to $3 billion as of July 12, up from $2.55 billion a week earlier. The reserve funds dividend payments on preferred stock and interest payments on outstanding debt. The timing aligns with the company's newly announced semi-monthly dividend schedule, which uses record dates on the 15th and last day of each month.
Bitcoin Holdings Unchanged
The company did not buy or sell any Bitcoin during the period and reported holdings of 843,775 BTC at an average purchase price of $75,476 per BTC. This marks a shift from the prior week, when Strategy announced it had sold 3,588 BTC for roughly $216 million to replenish its cash reserves and fund preferred dividend payments.
Those earlier sales occurred between June 29 and July 5. Strategy sold 1,363 BTC at an average price of $59,256 between June 29 and June 30, followed by 2,225 BTC at an average price of $60,773 between July 1 and July 5.
Ample Capacity for Future Raises
Strategy has $23.8 billion of remaining capacity under its MSTR ATM offering, including capacity from a new $21 billion authorization. The company also previously reported the sale of 12.7 million MSTR shares through its ATM offering, generating $1.15 billion in net proceeds, giving it substantial dry powder for future capital needs.
