Strategy sells to build cash
CoinDesk said the company used the bitcoin sale proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.
Arkham reported that Strategy directed $650 million of the proceeds from its common-stock sales to its USD reserve, lifting the balance to $4.65 billion as of Aug. 9.
CoinDesk added that the bitcoin sales reduced Strategy’s holdings to 840,447 BTC, acquired for $63.36 billion at an average price of $75,385, while the 1,690 bitcoin were sold at an average price of $64,262, net of fees and expenses.
Preferred buybacks and metrics
Strategy repurchased STRC preferred shares after the bitcoin liquidation, with CoinDesk stating it used the bitcoin sale proceeds to repurchase 1,152,020 shares of STRC for $108.6 million.
TechStock² reported that the company allocated $650 million from equity proceeds to its dollar reserve and that STRC repurchases were backed by bitcoin proceeds.
Futu牛牛 said Strategy sold $108.6 million worth of Bitcoin during the seven days ended August 9, reduced its common stock holdings by 6.6 million shares, raised approximately $653 million in cash, and repurchased $108.6 million worth of Stretch preferred shares.
