Bitcoin treasury firm Strategy sells $334M in MSTR shares, leaves BTC stack unchanged

Strategy sold roughly $333.7M of MSTR stock last week to fund preferred dividends, buy back its digital credit securities and bolster its USD reserves, while keeping its 840,447 BTC position unchanged and sitting on about $10B in unrealized losses.

Bitcoin treasury company Strategy sold approximately $333.7 million worth of its MSTR shares last week while making no changes to its bitcoin holdings, according to an 8-K filing with the U.S. Securities and Exchange Commission cited by The Block.

The firm sold 3,358,866 MSTR shares between Aug. 10 and Aug. 16. Strategy said it did not buy or sell any bitcoin over the same period, keeping its BTC position steady.

The company allocated $52.4 million in net proceeds from the stock sales to fund dividends on its STRC preferred stock and used $132.2 million to repurchase STRC under its Digital Credit Securities Repurchase Program. A further $149.1 million was added to its U.S. dollar reserve, lifting that balance to $4.8 billion.

Strategy continues to hold 840,447 BTC, worth around $53.4 billion at current prices, bought at an average of $75,385 per bitcoin for a total cost basis of about $63.4 billion including fees and expenses. The position represents roughly 4% of bitcoin’s 21 million maximum supply and implies around $10 billion in unrealized losses at recent spot levels.