Strategy establishes $1.59 billion reserve for potential Bitcoin buys

Strategy established a separately designated $1.59 billion U.S. dollar reserve. The reserve may fund Bitcoin purchases, stock buybacks, dividends, debt payments, and other treasury purposes. Strategy increased its typical cash buffer to $5.1 billion. The company sold about $2 billion in common shares last week. Strategy repurchased $136.4 million of its Stretch preferred shares. Strategy has not bought Bitcoin since June. President and CEO Phong Le said Strategy intends to remain a long-term Bitcoin buyer. Strategy holds 840,447 BTC worth $66.4 billion at current prices. The company began buying Bitcoin in 2020.