Billionaire Michael Saylor’s Strategy Boosts USD Reserves by $748M to $2.19B

Core Insights - Strategy Inc. has increased its U.S. dollar reserves by $748 million, bringing total USD liquidity to $2.19 billion, while maintaining its Bitcoin holdings at 671,268 BTC [1][4]. Group 1: Financial Performance - The increase in cash reserves is attributed to the sales under the company's at-the-market (ATM) offering program, generating net proceeds of $747.8 million from the sale of approximately 4.54 million shares of Class A common stock [2]. - As of December 21, the company reported over $41 billion in aggregate capacity remaining across its various common and preferred stock ATM programs, indicating substantial financial flexibility for future capital raises [3]. Group 2: Bitcoin Holdings - Strategy's Bitcoin holdings remained unchanged at 671,268 BTC, with an aggregate purchase price of approximately $50.33 billion, resulting in an average purchase price of $74,972 per Bitcoin [4]. - The absence of Bitcoin purchases during the reported period suggests a strategic decision to prioritize liquidity or a pause in accumulation due to market conditions [5]. Group 3: Strategic Outlook - By increasing its USD reserves to $2.19 billion, Strategy enhances its balance sheet and near-term optionality, providing flexibility to manage obligations and potential future Bitcoin purchases without immediate reliance on capital markets [6]. - The filing indicates that the company has consistently framed capital raises as a means to support long-term Bitcoin accumulation while maintaining sufficient liquidity to navigate market cycles [7]. - The continued use of ATM programs reflects Strategy's commitment to actively engage with equity markets to reinforce its capital structure, suggesting a tactical pause rather than a shift in long-term strategy [8].