Strategy opens a dollar cash pool as Bitcoin extends a 23 per cent week
Bitcoin extended a 23 per cent weekly gain after the largest three-day crypto rally since 2023. Strategy held 840,447 bitcoin, made no purchases that week, and opened a 1.59 billion dollar cash pool.
Economics & Markets··Night
A 23 per cent week after forced closures
Bitcoin extended gains after its strongest week in more than three years, rising about 23 per cent, following the largest three-day crypto rally since 2023. About 2.5 billion dollars of leveraged bearish bitcoin positions and 4.5 billion dollars across crypto were liquidated over three days. Lower long-term yields, exchange traded fund demand and forced closures of bearish positions supported the broad crypto move, according to CNBC. Shares of Coinbase, Strategy and Circle also rose during the move. The report describes lower long-term yields, exchange traded fund demand and forced closures as supports for that move.[1]
Strategy parks cash beside an unchanged bitcoin stack
Strategy said it held 840,447 bitcoin as of 23 August, bought for about 63.36 billion dollars at an average of 75,385 dollars each, and that it made no bitcoin transactions during the week. The company sold 18,261,118 Class A shares through its at-the-market programme between 17 and 23 August for net proceeds of about 2.01 billion dollars. It put 136.4 million dollars into preferred stock repurchases and 300 million dollars into its dollar reserve, and the rest went into a new dollar cash pool that stood at 1.59 billion dollars. The reserve stood at 5.10 billion dollars.[2]
Share sales filled a cash pool beside an unchanged stack
The same week's at-the-market sale that raised about 2.01 billion dollars left the 840,447 bitcoin stack unchanged. Strategy directed 300 million dollars into the dollar reserve and left 1.59 billion dollars in the new cash pool, while the bitcoin holding stayed unchanged between 17 and 23 August. CNBC's market report placed Strategy shares among those that rose with bitcoin's 23 per cent week. The cash pool is a dollar balance published beside the coin holding.[2], [1]
