Strategy Haults Bitcoin Sales, Boosts USD Reserves with MSTR Stock Proceeds
Strategy, the Bitcoin treasury firm led by Michael Saylor, has halted its Bitcoin sales after two consecutive weeks of selling some of its BTC holdings. The company's at-the-market (ATM) program allowed it to sell nearly 3.46 million MSTR shares last week, worth $333.7 million, and use the net proceeds from these sales to fund STRC buybacks and increase its USD reserves.
Strategy revealed in an SEC filing that it used $132.2 million of the net proceeds to repurchase STRC shares and $52.4 million to fund dividend payments for STRC stock. Additionally, $149.1 million was used to boost its USD reserve to $4.8 billion.
The MSTR stock price is currently trading at around $94, up over 1%, according to TradingView data. This comes as Bitcoin climbs above the psychological $63,000 level.