Strategy Inc. Sells $105M in Bitcoin and Stock to Fortify Finances

Strategy Inc., led by Michael Saylor, is continuing its pivot from aggressively buying Bitcoin to strengthening its financials. The company has completed a $105 million sale of Bitcoin and sold three million shares worth $291 million. As part of this effort, Strategy Inc. repurchased some $81 million of its STRC preferred shares.

The sales will help increase the company's dollar-based reserve pool to $4 billion. This move is aimed at shoring up the company's capital structure and reducing its reliance on Bitcoin accumulation.

Strategy Inc.'s shift in strategy comes after years of accumulating Bitcoin, which grew the company into prominence.