Strategy files new $1.59B funding pool that could be used for BTC purchases

Strategy, the largest corporate holder of Bitcoin, disclosed in an 8-K filing with the U.S. SEC on Aug. 24 a new $1.59 billion account that can be used for Bitcoin purchases. The company said the newly deposited "USD Cash" is part of a new component within its digital credit capital framework. According to the filing, the funds may be used for Bitcoin purchases, preferred stock dividends and bond interest payments, buybacks of MSTR common stock or preferred shares, repayments or repurchases of convertible notes, an increase in U.S. dollar reserves, and maintaining its status as a Bitcoin treasury company. Strategy described the funds as "a U.S. dollar liquidity pool the company may hold for general bitcoin treasury company purposes." Combined with its existing dollar reserves, the company has secured about $6.69 billion in liquidity, according to the report.