In the past week, $MSTR continued to raise $263.5 million through the sale of common stock via ATM (at-the-market offerings). During this week, MSTR neither bought any Bitcoin nor sold any bitcoin:native, and of course, did not repurchase any shares. All of these funds were converted into cash reserves, and currently, MSTR holds a total of $3.225 billion in cash reserves.
At this point, I wonder if anyone has noticed that while $263.5 million was raised through the ATM, the strategic reserve funds only increased by $225 million. So where did the remaining $38.5 million go?
I looked at the latest K-8 data released by MSTR, and there was no mention of what this money was used for. Of course, this amount is relatively small in relation to this week's ATM, and K-8 does not have to disclose all the cash flows. I’m just curious about the purpose of this portion of the funds.
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