Crypto
MSTR Sells 1,638 Bitcoin for $104 Million Amid Frustration Among Retail Investors
Strategy (MSTR), led by Michael Saylor, sold 1,638 Bitcoin at an average price of $63,957 per coin over the past week. This move ended a four-week pause on sales and resulted in a total revenue of $104.73 million.
The proceeds from this sale were used to fund preferred stock dividends and repurchase STRC shares. Additionally, Strategy raised $290.6 million through its at-the-market equity program, with most of the funds added to its USD Reserve.
MSTR's Bitcoin stash now stands at 842,138 BTC after the sale, which has sparked frustration among retail investors who had been holding out hope for a price recovery in Bitcoin.