<a href="https://cryptoz7.com/understanding-memecoins-as-distinct-from-traditional-cryptocurrency/” title=”Understanding Memecoins as Distinct From Traditional Cryptocurrency”>Cryptocurrency treasury firm Strategy (NASDAQ: $MSTR) left its holdings of Bitcoin (CRYPTO: $BTC) unchanged over the past week.
The company led by Chairman Michael Saylor made no Bitcoin purchases or sales in the last seven days, leaving its holdings unchanged at 843,775 BTC.
Instead, Strategy increased its U.S. dollar reserves by $466.7 million U.S. to $3 billion U.S. through at-the-market stock sales, according to the company’s latest regulatory filing.
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The company maintains the reserve to support dividend payments on its preferred stock (NASDAQ: $STRC) and interest payments on its debt.
Strategy acquired its Bitcoin holdings at an average price of $75,476 U.S., leaving it underwater with BTC currently trading at $62,500 U.S.
While Bitcoin’s price rose over the past week, it is again under pressure on July 13 as investors flee risk assets with the U.S. and Iran fighting again and crude oil prices rising sharply.
MSTR stock has declined 79% in the last 12 months to trade at $94.64 U.S. per share.
