MSTR Unloads $104 Million Worth of BTC After Four-Week Pause

Strategy, backed by Michael Saylor, ended its four-week pause on Bitcoin sales and sold 1,638 BTC over the past week. This sale brought in $104.73 million at an average price of $63,957 per coin. The company's remaining crypto stash now stands at 842,138 BTC.

The proceeds from this sale were used to fund preferred stock dividends and repurchase STRC shares under the company's Digital Credit Securities Repurchase Program. Strategy also raised $290.6 million through its at-the-market (ATM) equity program, with most of the proceeds added to its USD Reserve.

MSTR stock slid as much as 1.7% in pre-market trade amid weakness in Bitcoin's price. Retail traders expressed frustration with Saylor's strategy on platforms like Stocktwits.