Strategy’s USD Cash down 60% in seven weeks
Strategy’s USD cash balance fell from $1.61 billion on August 30 to $640.5 million on October 11, and the company used most of that cash for STRC buybacks. STRC has not raised fresh money since May, and the buybacks have continued every week since late July.
What this rests on
What it means
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Strategy’s cash position matters first to holders of its capital structure and to people tracking the company’s balance sheet. The company’s USD cash was $640.5 million on October 11 after falling from $1.61 billion on August 30, and that leaves less cash visible on the next disclosure than before.
In practice, the financing loop around STRC looks different than it did earlier in the year. STRC has not raised any new money since May, while Strategy has kept buying the security back every week since late July.
Market reaction
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
How the story was built
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Where this sits in the Bitcoin series
| When | What happened | Figure |
|---|---|---|
| 1.0 years ago | BTC a 1.152e+05 $ high | today it sits -29.3 % from there |
| 4 months ago | BTC a 5.857e+04 $ low | today it sits +39.0 % from there |
From what we have stored, starting 1.0 years ago.