Michael Saylor’s MSTR Didn't Buy A Single Bitcoin This Week – Here's What It Did Instead

Strategy raised approximately $466.7 million by selling 4.82 million Class A shares through its at-the-market offering program.

• Michael Saylor-backed Strategy did not purchase or sell any Bitcoin during the week, leaving its holdings unchanged at 843,775 BTC.
• Rather than buying additional Bitcoin, Strategy directed the proceeds to its USD Reserve, which has grown to roughly $3 billion.
• MSTR stock fell more than 3% in pre-market trade while Bitcoin dropped below $63,000.

Shares of Michael Saylor-backed Strategy (MSTR) tumbled in pre-market trading on Monday after the company announced it didn’t buy a single Bitcoin (BTC) this week, nor did it sell any. Instead, it raised money the old-fashioned way by selling its common stock and adding to its USD Reserve. 

In its filing with the Securities and Exchange Commission (SEC), the company said it sold 4.82 million shares of MSTR Class A common stock under its at-the-market (ATM) offering program, generating $466.7 million in net proceeds. 

That capital didn't go toward new Bitcoin purchases, and all four of its preferred stock offerings, STRF, STRC, STRK, and STRD, saw zero sales activity for the week. Instead, the money went towards its USD Reserve, the cash cushion the company maintains to cover preferred stock dividends and interest on debt, which stood at $3 billion.