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Strategy Continues To Sell Bitcoin And Common Stock

Published an hour ago 1 min read
Strategy Continues To Sell Bitcoin And Common Stock

Strategy is continuing to sell both Bitcoin and its common stock, according to the Yahoo Finance headline and excerpt. The limited information provided does not specify the size, timing, or purpose of the sales.

Key Takeaways

  • 01 Strategy is selling Bitcoin.
  • 02 Strategy is also selling common stock.
  • 03 No transaction amounts, dates, or rationale were provided in the excerpt.
Strategy Continues To Sell Bitcoin And Common Stock

Serial cryptocurrency acquirer Strategy (NASDAQ: $MSTR) continued to sell both Bitcoin (CRYPTO: $BTC) and its common stock over the past week. 

The company led by Chairman Michael Saylor raised $108.6 million U.S. last week through the sale of 1,690 BTC and an additional $653.1 million U.S. from the sale of 6.59 million shares of its common stock.

The company used the Bitcoin proceeds to buyback 1,152,020 shares of its variable-rate preferred stock (NASDAQ: $STRC) at a cost to the company of $108.6 million U.S.

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The latest Bitcoin sales reduced Strategy's holdings to 840,447 BTC, acquired for $63.36 billion U.S. at an average price of $75,385 U.S. 

The 1,690 Bitcoin were sold over the past week at an average price of $64,262 U.S., meaning the company continues to sell BTC at a loss. 

Strategy is prioritizing building up its cash reserves and ensuring that it has enough money to cover dividend payments on its preferred stock, which yields 12%. 

Strategy directed $650 million U.S. of the proceeds from its common-stock sale to its cash reserves, increasing the balance to $4.65 billion U.S. 

Following the latest transactions, Strategy has $785.2 million U.S. remaining on its preferred stock repurchase program. 

Bitcoin is trading at $64,800 U.S. on Aug. 10. MSTR stock has declined 75% over the last 12 months to change hands at $100.01 U.S. per share. 

Attribution

Originally reported by Yahoo Finance

#bitcoin#crypto

Quick Answers

Is Strategy selling Bitcoin?

Yes. The headline states that Strategy continues to sell Bitcoin.

Is Strategy also selling common stock?

Yes. The headline says Strategy is continuing to sell common stock alongside Bitcoin.

How much Bitcoin and stock is Strategy selling?

The provided headline and excerpt do not disclose the amount of Bitcoin or common stock being sold.

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