MicroStrategy Sells $104M in BTC to Fund Dividend Payments
MicroStrategy, formerly known as Strategy, has sold 1,638 BTC (~$104.7M) between July 27 and August 2 at an average price of $63,957 per coin.
The sale was to fund STRC preferred dividends ($52.4M) and buybacks ($52.3M), while also selling 3,011,361 MSTR shares via an ATM for $290.6M and adding $250M to its USD Reserve, now $4 billion.
Despite this sale, the company maintains that it remains a long-term Bitcoin buyer, with CEO Phong Le saying the company plans to continue buying Bitcoin in the future.