Saylor's Strategy Sells $11k Loss per BTC as Preferred Stock Climbs Towards Par

Michael Saylor's company, Strategy, has been selling Bitcoin in recent weeks to fund its USD Reserve and keep preferred stock dividend obligations current.

The company's Digital Credit Framework model has shifted focus from buying and holding Bitcoin forever to using it as collateral for debt and preferred-stock obligations.

Last week, Strategy sold 1,638 Bitcoin to raise $104.7 million specifically to bolster its USD Reserve, which is tied to the Variable Rate Series A Perpetual Stretch Preferred Stock's (NASDAQ:STRC) dividends.

Strategy has indicated it wants STRC back at par value ($100) before resuming Bitcoin purchases, and the preferred stock's price has recovered 35% in two months, closing Friday at $95.18.