Strategy raises $335.5M while buying only $34.9M in Bitcoin, revealing a 10-to-1 cash hoarding ratio
By
Elroy Fernandes
3h ago· 5 min readenInsight
Summary
Strategy (formerly MicroStrategy), led by Michael Saylor, continues its Bitcoin acquisition strategy, purchasing 520 BTC for $34.9 million in its third straight weekly buy. However, the more significant figure is the $335.5 million raised through an at-the-market (ATM) equity offering, meaning the company is hoarding cash at roughly ten times the rate it's buying Bitcoin. This gap between cash reserves and Bitcoin purchases reveals a more cautious approach than the headline-grabbing buys suggest, with Strategy building a massive cash war chest while continuing its dollar-cost averaging into Bitcoin.
Source
bskyStrategy raises $335.5M while buying only $34.9M in Bitcoin, revealing a 10-to-1 cash hoarding ratiostartupfortune.comKey quotes
· 3 pulledStrategy disclosed on June 22 that it had purchased 520 Bitcoin for about $34.9 million, paying an average of $67,068 per coin.
The company raised $335.5 million last week and spent $34.9 million of it on Bitcoin, which makes the weekly buy look smaller than the cash reserve sitting behind it.
That was its third straight weekly acquisition. On its own, it looks like the familiar Saylor routine: buy Bitcoin, announce the buy, let the market argue over the
Strategy disclosed a 520-BTC purchase for $34.9 million on June 22, its third straight weekly acquisition, but the real headline is the $335.5 million ATM
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