Microstrategy Shares Rise as Company Sells Bitcoin, Boosts USD Reserve

Microstrategy Inc., led by Executive Chairman Michael Saylor, reported a 2% rise in its shares on Monday following fresh sales of Bitcoin and common stock. The move marks another step towards the company's shift away from its long-standing Bitcoin accumulation strategy.

The company disclosed it sold approximately 1,638 Bitcoin for about $104.7 million during the week ended Aug. 2 at an average price of $63,957 per token. Alongside this sale, Microstrategy also sold over 3 million common shares, raising around $290.6 million.

The proceeds from these transactions were used to increase its USD Reserve by $250 million to a total of $4 billion, while also funding repurchases of its STRC preferred shares, which have been trading below par. The company repurchased approximately $81 million of STRC preferred stock as part of its broader effort to improve its capital structure.

As of August 2, Microstrategy holds around 843,138 Bitcoin, valued at roughly $52.6 billion. The holdings were acquired at an average purchase price of $75,419 per Bitcoin, representing a total acquisition cost of approximately $63.5 billion including fees.