Strategy disclosed Monday the creation of a new cash reserve called USD Cash, which currently holds $1.59 billion and can be deployed to buy bitcoin, fund preferred-stock dividends and debt payments, repurchase securities, or cover other corporate expenses, the company said.

Strategy's existing reserve, now at $5.1 billion, is restricted to covering preferred-stock dividend obligations and interest on the company's outstanding debt; board approval is required before the funds can be directed anywhere else, the company said. The initial reserve was part of a capital management framework Strategy unveiled in June, according to Bloomberg.

Strategy's last bitcoin acquisition dates to the seven-day period ending June 22, and a Monday filing confirmed no purchases or sales occurred in the week through Sunday. The company's total bitcoin holdings are valued at roughly $70 billion, according to Bloomberg.

Shares climbed as much as 3% to $122.79 when markets opened Monday, though the stock remains down roughly 66% over the trailing twelve months.