Strategy Sells 1,690 Bitcoin as MSTR Share Sales Raise $653 Million

By: Matthew Kerr, Quiver Data Analyst

Strategy ($MSTR) sold 1,690 Bitcoin for $108.6 million last week while separately raising $653.1 million through sales of its common stock, according to an August 10 SEC filing. The company used the Bitcoin proceeds to repurchase STRC preferred shares and directed $650 million of the new MSTR proceeds to its U.S. dollar reserve.

• Strategy sold 1,690 Bitcoin between August 3 and August 9 at an average price of $64,262, generating $108.6 million.
• The entire $108.6 million of Bitcoin proceeds funded the repurchase of 1,152,020 STRC preferred shares.
• Strategy sold 6,585,682 MSTR shares through its at-the-market program, generating $653.1 million in net proceeds.
• $650 million of the MSTR proceeds increased Strategy's U.S. dollar reserve, bringing it to $4.65 billion as of August 9.
• Strategy retained 840,447 Bitcoin, acquired for $63.36 billion at an average purchase price of $75,385.

Relevant Companies

• Strategy ($MSTR) - Directly affected by the Bitcoin sale, common-stock issuance, STRC repurchase, and increase in its dollar reserve.

Editor’s Note: This is a developing story. This article may be updated as more details become available.

Matthew Kerr is a data analyst at Quiver Quantitative, with a focus on single-stock research and government datasets. Prior to joining Quiver, Matthew was an analyst intern at BlackRock.