MSTR Stock Surges 1.80% on $104.7M Bitcoin Liquidation

Strategy Inc (MSTR) stock rose by 1.80% to $94.96 on August 3rd, as a result of a recent Bitcoin liquidation that generated $104.7 million in revenue.

The company sold 1,638 Bitcoin between July 27 and August 2 at an average price of $63,957 per token, resulting in a decrease in its Bitcoin position to 842,138 coins with an aggregate acquisition cost of approximately $63.5 billion.

The proceeds from the sale were allocated equally, with $52.4 million going towards STRC dividend payments and $52.3 million used for discounted share repurchases.

Strategy also sold 3.01 million MSTR common shares during this period, generating approximately $290.6 million in gross proceeds, which it used to increase its cash reserve to $4 billion.