PiCK
Strategy’s Reserve Capital Reaches $66 Billion, Second Only to Berkshire Among S&P 500 Financial Firms
Summary
- Strategy’s total reserve capital has reached $66 billion, the second-largest among S&P 500 financial companies after Berkshire Hathaway.
- Strategy has raised funds through stocks and bonds and used the proceeds to continue buying Bitcoin.
- Strategy has resumed Bitcoin purchases and secured separate cash-equivalent reserve assets to increase financial flexibility.
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Strategy’s total reserve capital has reached $66 billion, the second-largest amount among S&P 500 financial companies after Berkshire Hathaway, Cointelegraph reported on Sept. 2.
Strategy, led by Michael Saylor, is the world’s largest corporate holder of Bitcoin. The company has raised funds through stock and bond sales and used the proceeds to keep buying the cryptocurrency.
It recently resumed Bitcoin purchases after a 10-week pause. Strategy bought an additional $369.7 million worth of Bitcoin in the week ended Aug. 30.
The company is also reorganizing its capital structure. While maintaining its Bitcoin holding strategy, it is securing separate cash-equivalent reserves to support dividend payments and debt repayment, increasing flexibility in its financial operations.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.