Strategy Boosts Dollar Reserve After Bitcoin Sale
Strategy used Bitcoin sale proceeds to repurchase preferred shares and said its reserve now covers dividend payments and liquidity needs.
- On Monday, Strategy reported selling 1,690 Bitcoin for $108.6 million between August 3 and August 9, using proceeds to repurchase approximately 1.152 million shares of its STRC preferred stock.
- Building its reserve to $4.65 billion as of Sunday, Strategy continues selling Bitcoin to fund share buybacks and support STRC preferred stock pricing amid market pressure.
- Strategy sold the latest batch at an average net price of $64,262 per Bitcoin, while its total holdings of 840,447 BTC carry an average purchase price of $75,385 per unit.
- Following recent buybacks, STRC shares retook $90 on August 3, rebounding 24% from June lows, though Bitcoin itself remains down 46.14% over the past year.
- As the largest corporate Bitcoin holder, Strategy faces a thesis reliant on Bitcoin recovering past its $75,385 cost basis, with 14 analysts maintaining Buy ratings on MSTR.
34 Articles
34 Articles
Long-Term Bitcoin Bulls Should Treat Strategy as What It Is
Strategy holds nearly a million Bitcoin while trading at a fraction of last year's price, and the question dividing Wall Street is whether the capital-markets engine that makes it compelling is the same one that could eventually break it.
Strategy (NASDAQ: MSTR) Sells Bitcoin At A Loss As It Shifts Away From Its "Never Sell" Stance
Strategy (NASDAQ: MSTR), the world’s largest corporate holder of Bitcoin, has reversed course on its long-held policy of never selling the cryptocurrency it has accumulated since 2020. The company sold 1,690 BTC for $108.6 million in the week ending August 9, leaving 840,447 coins remaining in its treasury. All proceeds from that sale were directed toward a $108.6 million buyback of STRC preferred shares, the third transaction under a $1 billion…
Strategy Remains Committed to Bitcoin Buys Despite Recent BTC Sales, CEO Says
Strategy CEO Phong Le said the company plans to resume accumulating Bitcoin later this year, even after shifting business priorities prompted it to sell portions of its holdings in moves that drew scrutiny from the market. In a Monday interview with FOX Business, Le said Strategy had purchased around 175,000 Bitcoin since the beginning of the year while selling roughly 7,000 BTC, making the company a significant net buyer. That’s “about 25 times…
Michael Saylor’s Bitcoin Treasury Firm Strategy Hawks $109,000,000 Worth of BTC in Second Consecutive Week of Sales
The Bitcoin treasury firm Strategy (MSTR) sold 1,690 BTC worth $109 million in the past week, its second consecutive week of sales. Strategy sold 1,638 BTC worth $105 million the week before, and that sale was preceded by a three-week stretch when the firm didn’t buy or sell any Bitcoin. The recent sales materialized under […] The post Michael Saylor’s Bitcoin Treasury Firm Strategy Hawks $109,000,000 Worth of BTC in Second Consecutive Week of S…
Strategy’s $109 Million Bitcoin Sale Signals Shift After Seven-Week Pause
Strategy just sold another slice of its Bitcoin hoard. The move, disclosed Monday, sent ripples through markets already on edge. Bitcoin dipped below $64,500. The total crypto market shed roughly $30 billion in value within hours. Over $50 million in long positions got liquidated in the ensuing scramble. The numbers tell part of the story. Between August 3 and August 9, the company offloaded 1,690 Bitcoin for about $109 million, according to its…
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