Strategy (NASDAQ: $MSTR) left its Bitcoin (CRYPTO: $BTC) holdings unchanged over the past week even as the company continued to buyback its preferred stock (NASDAQ: $STRC).
The serial cryptocurrency acquirer led by Chairman Michael Saylor raised $333.7 million U.S. last week through the sale of 3.46 million shares of its common stock.
Proceeds from the common stock sale were used to boost Strategy’s cash reserves by $150 million U.S. and buyback $132.2 million U.S. of its variable-rate preferred stock.
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The company also allocated $52.4 million U.S. to dividends paid on the preferred stock, which yields 12%.
However, Strategy left its Bitcoin holdings unchanged over the last week at 840,447 BTC.
The company’s Bitcoin holdings were acquired for $63.36 billion U.S. at an average price of $75,385 U.S. per BTC.
Strategy has said in recent weeks that its near-term priority is building up its cash reserves and covering dividend payments on its preferred stock.
After the latest transactions, Strategy has $653 million U.S. remaining on its preferred-stock repurchase program and $1 billion U.S. available under its common-stock buyback program.
MSTR stock has declined 74% over the last 12 months to trade at $93.04 U.S. per share.
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