Strategy has sold another 1,690 Bitcoin for $108.6 million as the company continues to raise cash and repurchase its STRC preferred shares.
The latest sale brings Strategy’s reported Bitcoin sales in recent weeks to 6,916 BTC, according to figures provided in company disclosures and market reports. The company said the Bitcoin was sold between Aug. 3 and Aug. 9 at an average price of $64,262 per BTC. Following the latest Bitcoin sale, Strategy (MSTR) stock fell 1.81% to $98.27, while the STRC jumped to $95.26, up 0.18%.
Strategy used the full $108.6 million from the sale to repurchase 1,152,020 shares of its variable-rate STRC preferred stock. The transaction comes as the company increases its dollar reserves while maintaining one of the largest corporate Bitcoin holdings.
Strategy Raises Dollar Reserve to $4.65 Billion
Strategy also sold 6.59 million MSTR common shares last week, raising $653.1 million. The company allocated $650 million of those proceeds to its U.S. dollar reserve, while the remaining $3.1 million was added to cash.
Strategy said its dollar reserve reached $4.65 billion as of Aug. 9. The company also reported that its USD duration increased to about 2.7 years following the latest reserve increase.
The larger cash position gives Strategy additional funds for preferred-stock obligations and other corporate expenses. The company has $785.2 million remaining under its STRC repurchase program and $1 billion available under its MSTR common-stock repurchase program.
Strategy has not used the latest common-stock proceeds to purchase Bitcoin. Instead, the company has directed recent capital toward its reserves, preferred securities, and related financial commitments.
Bitcoin Holdings Fall to 840,447 BTC
The latest sale reduced Strategy’s Bitcoin holdings to 840,447 BTC. The company said those holdings were acquired for approximately $63.36 billion at an average purchase price of $75,385 per Bitcoin.
The 1,690 BTC sold in the latest transaction changed hands at an average price of $64,262. That price was below Strategy’s reported average acquisition cost for its overall Bitcoin holdings.
