MicroStrategy increased its U.S. dollar reserve to $3.75 billion, according to a recent regulatory filing. The company raised approximately $544.5 million in net proceeds through its at-the-market stock program. It sold 5.4 million shares of Class A common stock to generate this capital.
The company intends to use the enhanced reserve to fund preferred stock dividends and interest on outstanding debt. This $3.75 billion cash position covers these financial obligations for approximately 2.1 years.
MicroStrategy reported no new bitcoin purchases for the third consecutive week. The filing also revealed the company repurchased $25 million of its preferred stock.