The Bitcoin treasury firm Strategy (MSTR) has now gone four consecutive weeks without buying any BTC.
The company announced on Monday that it had increased its US dollar reserves by $225 million over the past week, though it refrained from buying any new Bitcoin.
It’s Strategy’s second consecutive week without buying or selling any BTC after last week’s announcement that it had added $450 million to its cash reserves.
Those announcements followed a two-week period where the firm sold a total of 3,588 BTC for $216 million. The sales, which sparked headlines across the crypto sector, materialized under the Strategy’s newly introduced BTC monetization program, designed to bolster the firm’s cash reserve and support dividend payments.
The company still holds 843,775 Bitcoin worth $54.9 billion at time of writing, as well as $3.2 billion in cash reserves.
Chaitanya Jain, Strategy’s head of Bitcoin product and investor strategy, says the firm’s dividend coverage now stands at 1.8 years through their USD Reserve and 31 years through their BTC Reserve.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate holder of BTC by a wide margin.
The firm’s stock, MSTR, is down nearly 38% year-to-date but up more than 3% in the past five days.
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This post Michael Saylor’s Bitcoin Treasury Company Strategy Goes Fourth Consecutive Week Without Buying Any BTC may be modified as updates unfold.
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