Strategy Sells $109M in Bitcoin as Dollar Reserve Tops $4.6B

In brief

• Strategy sold 1,690 BTC for $108.6 million in the week to Aug 9, leaving 840,447 coins in its treasury.
• All of the proceeds funded a $108.6 million STRC buyback, its third under a $1 billion program.
• Separate sales of $653.1 million of common stock lifted the dollar reserve to $4.65 billion.

Michael Saylor's Bitcoin treasury firm Strategy sold 1,690 BTC for $108.6 million in the week to Aug 9, according to an 8-K filed Monday, cutting its Bitcoin stack to 840,447 BTC from the 842,138 held a week earlier. The coins went at an average of $64,262, net of fees.

The sales leave Strategy with an aggregate cost basis of $63.36 billion, or $75,385 per Bitcoin—$11,123 more than this week's coins fetched.

Every dollar went into buying back preferred stock. Strategy repurchased 1,152,020 STRC shares for $108.6 million, matching the sale proceeds exactly, in its third buyback under the $1 billion Digital Credit Securities Repurchase Program announced June 29. That leaves $785.2 million of authorization. A week earlier, half the Bitcoin proceeds had funded preferred dividends and half an $81 million buyback.

The larger transaction was in equity. Strategy sold 6,585,682 common shares for $653.1 million net, more than double the 3,011,361 it sold the previous week, directing $650 million into its dollar reserve and $3.1 million to cash. The reserve stood at $4.65 billion as of Aug 9, up from $4 billion.