Strategy sold 1,690 Bitcoin (BTC) for $108.6 million last week and put every dollar of the proceeds into buybacks of its STRC preferred stock.
Key Points:
- Strategy sold 1,690 BTC between Aug. 3 and Aug. 9 at an average net price of $64,262 per coin.
- The full $108.6 million funded the repurchase of 1,152,020 STRC preferred shares.
- The company still holds 840,447 BTC bought at an average price of $75,385.
Strategy Bitcoin Sale Funds STRC Repurchase
The company disclosed the transaction in a Form 8-K filing with the U.S. Securities and Exchange Commission on Monday, covering trades executed between Aug. 3 and Aug. 9. It sold at an average net price of $64,262 per coin, net of fees and expenses. That sits roughly 15% under the average price Strategy paid to build the position, so the week's disposal locked in a loss.
Net proceeds bought back 1,152,020 shares of STRC, the variable-rate perpetual preferred stock the company issued to help finance its Bitcoin purchases and engineered to trade near a $100 par value. It has yet to hold that level, even after three rounds of repurchases since late June.
Strategy still holds 840,447 BTC acquired for $63.36 billion, an average of $75,385 per coin. Those holdings keep Michael Saylor's company far ahead of every rival corporate holder, with Twenty One Capital a distant second at 43,514 coins. The firm sold 1,638 BTC the previous week and has now parted with 6,948 BTC this year, trimming its stack by roughly 0.8%.
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Michael Saylor Defends The Dollar Reserve
Strategy separately raised $653.1 million by selling 6,585,682 MSTR shares under its at-the-market equity program, then routed $650 million into its dollar reserve and $3.1 million into cash. That reserve, which covers dividends on the preferred stack and interest on outstanding debt, climbed to $4.65 billion from $4 billion in a single week.
Saylor said the raise extended what the company calls its USD Duration, a measure of how long the cash cushion can fund those obligations, by 143 days to 2.7 years.
