$748M added to cash reserves after strategy suspends bitcoin purchases

Strategy (MSTR), the largest publicly traded bitcoin holder, added $747.8 million to its cash reserves last week.

The company’s “USD Reserve,” used to fund preferred stock dividends, now totals roughly $2.2 billion, according to a Monday SEC filing. The increase came entirely through common stock sales, providing enough capital to cover 32 months of dividend payments.

Despite the cash increase, Strategy paused bitcoin purchases after two consecutive weeks of adding about $1 billion worth. The firm still holds 671,268 BTC, acquired for just over $50 billion and currently valued at approximately $60.4 billion, based on bitcoin’s price near $90,000.

MSTR shares rose 3% in premarket trading, reflecting bitcoin’s weekend gains, but remain down more than 40% for the year.