MicroStrategy Sells More Bitcoin, Boosts Reserves with $653 Million
Strategy, the parent company of MicroStrategy (MSTR), has continued its Bitcoin-selling spree by offloading 1,690 BTC between August 3 and August 9. The total value of the sale is approximately $109 million at an average price of $64,262 per coin.
The proceeds from this sale were allocated to fund the company's Digital Credit Securities Repurchase Program, specifically for repurchasing STRC stock. As part of this program, Strategy also executed the sale of 6.59 million MSTR shares, generating a total of $653.1 million in proceeds.
Of this amount, $650 million was used to boost the company's US Dollar (USD) reserves, which now stand at $4.65 billion. This figure reflects expected cash proceeds from shares sold through Strategy's at-the-market (ATM) program that were pending settlement as of the reporting date.
Strategy still holds 840,447 BTC, acquired at a total cost of $63.36 billion with an average purchase price of $75,385 per Bitcoin. This maintains its position as the largest corporate holder of Bitcoin.