Michael Saylor’s Bitcoin (BTC) treasury company, Strategy (Nasdaq: MSTR), increased its U.S. Dollar Reserve by $747.8 million last week.
The company used the proceeds from the sale of its MSTR common stock during the period to fund the cash raise.
Related: Michael Saylor’s Strategy announces $1.44B dollar reserve as stock slumps
With the latest accumulation, Strategy’s USD Reserve is worth $2.19 billion as of Dec. 21. The company said it may adjust the reserve from time to time based on market conditions, liquidity needs and other factors.
However, the company didn’t buy any Bitcoin last week and its total holdings now stand at 671,268 BTC worth more than $60 billion at the time of writing.
More News:
Strategy builds dollar reserve to address Bitcoin volatility
It was on Dec. 1 that the company created the cash reserve worth $1.44 billion to support dividend payments on preferred stock and service its debt obligations.
The company aims to maintain a balance sufficient to cover at least 12 months of dividends, with long‑term plans to extend that coverage to 24 months or more.
Strategy launched the cash reserve to complement its Bitcoin reserve to address the modified NAV (mNAV) approaching 1, that is, the company’s equity value is now roughly at the same value as its underlying Bitcoin holdings with no premium from the market.
The goal is to have enough cash to cover a few months of payouts amid Bitcoin volatility.
Strategy is under considerable pressure right now as it risks getting delisted from the MSCI USA Index as the Morgan Stanley Capital International (MSCI) considers excluding public companies with more than 50% of the assets on their balance sheets dedicated to digital assets from its indices.
The MSTR stock was trading at $169.77 in pre‑market hours on Dec. 22, up 3% in a day.
Bitcoin was 2.5% up in the last 24 hours, trading at $89,990.30 at the time of writing.